hockland, that is a common misconception. a ntsc version runs more frames per second, but each frame moves characters a bit less than the PAL version of the game. so in one second, they both move the characters the same amount; but the PAL version has done it in less frames.
insane111, we're not talking about getting more FPS in the PAL game. we're saying that if you get the same FPS in PAL and NTSC (like if you were running both games at 50FPS) the PAL game would run faster.
john rarris, that is more a compatability issue rather than a speed issue. I believe lots of times the PAL and NTSC versions just need certain patches to make them work. like PCSX2 might come with a built in patch for an NTSC game, but lack the patch for the PAL version. so for the game to run, you need to make a custom patch.
edit:
skoreanime, it won't be noticible if your running a PAL game at 50 fps and a NTSC game at 60 fps. but say you run both games at 40fps, you will notice the PAL version being faster.