I think it handles the frame rate conversion well. The website I used has a variety of different players. Some have video converters. Some don't have video converters. Here is the description they give:
Region Free Blu-ray DVD players Buying Guide and Information
If you are planning to use a Multi Region Blu-Ray DVD player in the USA you need to consider a few things before you purchase. Region coding for Blu-ray discs is divided between the world in 3 regions which are A, B, and C. In addition to the regional coding, there are Pal and NTSC TV output systems. If you have a TV in the United States, chances are that TV only supports the NTSC TV system. This means if you want to play back a Pal DVD disc from Europe, Asia, the Middle East, Africa, etc., you will need a DVD player that has a video converter built in or you will need to buy an external video converter. We have packages with all of our players that do not convert so you can purchase the player with the video converter. We also sell many DVD players now that have a video converter built in. If you buy one of these you will not need anything besides the player to play Pal or NTSC discs on an NTSC TV in North America. If your TV supports both Pal and NTSC then you can play any of these discs on your TV without a video converter. If your TV is the Pal or Secam standard in Europe, Asia, Middle East, Africa, etc. then you will not need a video converter. Most of the time you will be able to play standard and/or Blu-ray DVD movies from the USA and/or overseas with just one of our Multi region Blu-ray players. However, TV's from the USA may not support the resolution HDMI input from a foreign disc, in which case you will need to purchase a video converter.