Yes, using DVD decryptor one can remove the region protection.
But the basic problem will still remain.As you load DVDs of different regions, the counter will reset and after five changes you will get stuck with the hardware refusing to play any DVDs of a different region than set last by the counter and also the player software.
Also development of DVD decryptor was abandoned long time back.It will not be able to decrypt some of the new DVDs with different copy protection techniques and where deliberately DVD makers introduce dummy sectors.You can still copy such DVDs by using a combination of appropriate software. Refer the following tutorial by go4saket
*www.thinkdigit.com/forum/showthread.php?t=32980&highlight=copy+DVDs
All said and done, if you are a "DVD maniac"

trying different region DVDs, you need to make your hardware region free as well as take care of the region-setting mechanism of the player software.
Practically speaking, such a situation does not arise for most users as we all play either Region 1 (North America) DVDs, or Region free indian film DVDs.
In any case, knowledge is Power
