Yeah this even turned up here in Kansas at a Wal Mart a couple months ago. I was tempted as a collector, but since I already have the Japanese version with PCM, this would have been pointless.
I don't know the lineage, but I assumed it was either *the* UK version which came out awhile back with the same cover, since they often release theirs as NTSC now or some crappy pirate copy, as it sounds like it is.. I'm glad I passed.
The Japanese release, while somewhat lacking in fancy artwork is excellent quality both audio and video.
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I bought that dvd also. Didn´t know it was pirate, but i also bought a Live in Rio -queen dvd which was also by masterplan.