I am planning on purchasing a Region 3 DVD. I am not sure if it is compatible with my dvd player. If it is not, if I use DVD Decrypter and DVD Shrink, will it then play on a Region 1 DVD player?
Shrink can make your copies "region free". Go into Edit> Preferences> File I/O and tick the third box down. Shrink will check region codes for you and then ask at some point if you would like the copy to be region free. Select yes or OK.