@Fabio2598 I actually tested with the NTSC version when I did. I only noticed frame drops on occasion that was independent from the game speed, so the actual game had no slowdown or lag. Maybe I am wrong, though. I only tested for 5 mins.
PAL games can have better frame rate and performance because it is running at 50Hz instead of 60Hz. In general, there is not much of a difference. It depends on the game. Valkyrie Profile 2 seems to drop less frames on the PAL version, but in turn it is running at 50Hz and not 60Hz. I much prefer 60Hz.
However, the notes of Armageddon say PAL at 60Hz runs better. Are you sure it runs better than NTSC, or is it just a placebo?