Yeah, a PAL version is supposed to come soon.
For the hitlag, its a matter of taste. I dont think its that bad since teching is easy in Brawl. You can always tech out of any combos or just DI even with the highest hitlag.
@Gnizmo: Sorry, I don't have MK videos to show you, but I've played many metaknights and omg I hate them. But yeah, maybe VGchartz is not really a competitive place, but people should try this anyway. I mean, many of my friends were Brawl fanatics and disagreed on Brawl+ on almost everyway (they agreed that tripping was gay) but they totally changed their mind when they tried. The community will always make a game's lifespan much longer than expected and thats mostly thanks to the modding community.
Seriously, you guys should give this a try before setting your mind. It's not THAT different of an experience, it's just.. I can't really explain but for me, it was fun^^ I was playing Mario again and thought he was the good ol Mario that did tons of awesome stuff and was able to kill again.. *tears of joy* ^^
If people tells me that you think Brawl+ is total bullshit won't make me stop playing this thing ^^
EDIT: I edited the last line so it sounds more of a general statement.