Flip camcorder NTSC/PAL?

I recently read about the Flip Camcorder. Seems like a perfect gizmo for playing around with, but would there be a problem using it on a European computer? The TV output is NTSC, but could I use the actual film itself when it’s on my laptop? It records Mpeg4, and I’d ultimately splice it together and burn the complete version to a DVD anyway…figured I’d ask before I went out and bought one. Thanks!