Your problem is that PAL and NTSC are two different framerates for one thing. NTSC Uses 29.97 FPS and PAL uses 25FPS therefore the TV wouldn't be able to acurately display the PAL material. Second, the aspect ratios of PAL are different. PAL being 1.067 for the most part and NTSC being 0.9. And finally the res of them is also different. NTSC Being 720/480 and PAL being 720/576.
ANyway to correct your problem you could try and run the feed through a comp that your not using, it would have to allow realtime output tho, so thats probably an expensive route. Another option would be to try one of those fancy VCRs that can record and playback a BUNCH of formats like the sv-5000w by samsung.
Finally take a look and make sure that you are allowed to change the power like you did. Using a transformer you might be loosing some of the current thats needed to run the system. For instance at our family run Arena we reciently installed a Fire Alarm system and needed a step down transformer to switch the 120v to around 24v The transformer we initally recieved was a 24v but it only gave us an output of around 19-20v. We switched to a 32v and the output hovered around 24-25v. Now this could have been because our transformers were of a lower quality or something, I dont know. However, plug it in, get a multimeter and make sure you are getting the correct Voltage out of it. Also you check the amperage your getting off it.
Also as for the 50/60hz on the bottem of the console, I would imagen that is normal. The frequency of AC Current is 60 cycles per second here in Canada so I would imagen that is what it is meaning, and if so it would only be the powersupply. But if there was a massive change from that, it would probably just not run / lockup like a computer does. Dont quote me on that tho
Gluck