reynoldsno1 is correct - it is a complicated way, but it does mean that I end up with DVDs that play on any US machine, and that's just more convenient for me.
Also the conversion technique is useful because I have a number of PAL VHS videos that I am in the process of burning to DVD - less cumbersome, doesn't need a multistandard VCR, etc.
The biggest issue with conversion is getting the motion right - you can see this on older UK programmes that are shown in the US with horizontal scrolling titles - they jump a lot. The technique I describe addresses that reasonably well.
Also, I came across a fantastic deal ($40!) on a DVD player that can be very easy to deregionalise. You can read about it
here.