This issue can be resolved quite easily actually. Using a program called IFOedit you can go into the .IFO files and change a couple lines and bang, you have converted a PAL VIDEO_TS folder to NTSC VIDEO_TS folder. Then just burn normally in nero because it is now NTSC. No conversion required, just need to replace a couple lines (called patching the disc).
Here's how:
http://www.videohelp.com/forum/viewtopic.php?t=221928
http://www.ifoedit.com/
I don't know if I would recommend using this method if you plan on spreading the DVD, but for one's own personal use (ie playing a PAL DVD you D/Led, its seems great.
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