Sort of, except it also uses a different colour system to PAL. Anyway, if your country uses PAL, make sure your DVD player does PAL-60 output (providing your TV is quite new) or does true NTSC output (if your TV is really new - check your TV instruction booklet anyway). If it's really old, you could buy a DVD player with true NTSC -> PAL conversion (very expensive) or buy a computer DVD drive.
NTSC - National Television Standards Committee. The oldest existing standard, developed in the USA. First used in 1954. Consists of 525 horizontal lines of display and 60 vertical lines. Sometimes irreverently referred to as "Never Twice the Same Color." Only one type exists, known as NTSC M.
I bought mine from america via amazon, and it was definitely worth buying. It's not one of those cheaply put-together DVDs, it has heaps of features and is worth every dollar.