Nope- the love is only one way. If you want a DVD that plays on NTSC players- it needs to be NTSC. That means you need to make NTSC video clips and NTSC menus. The menus are easy- just resize to 720X480. For the video I usually take it to a dub house for transcoding.
The biggest drawback of software conversion from Pal to NTSC is that you have to add fields to go to NTSC. For that you need some algorithm that is only found in EXPENSIVE hardware boxes.
Given the dutch rental rates of digibeta it makes no sense trying to shoot NTSC. NTSC is inferiour in every way. As you target two different markets i would suggest shooting pal and author two versions of the disc.
A translated dub from/to digibeta will cost you not more than a few hundred while the rent of a digibeta NTSC rig will set you back more on the first day.
I would have to agree with bouke on this. Even the encoding of NTSC is tougher then PAL. But i wonder, we as "dutch" have a majority of consumers who own a multisystem TV and DVD player. What about the NTSC market ? Do they own multisystem sets as well ?
Yes then you have to athor twice i guess.. :( Too bad and you have to find a way to convert PAL to NTSC niceley. There are some tools available for that but you might want to go to a production house to do that for you.