Sorry, Europe. The video store will be heading your way at some point in the future, but in the mean time you're going to have to live with without some awesome non-interactive downloadable content. The video store is ip locked to the US, which means that even if you set up a US account in Europe, you're going to be locked out. There are probably ways around it using proxies, but for most people that's going to be more hassle than it's worth.
The question is, if Sony can region lock the stores like this, why don't they? Surely it prevents cross-region purchases far better than just crying "don't do that!" On the other hand, it makes sense considering that the PS3 is region-free for Blu-ray games, but locked for Blu-ray movies. Maybe the game stores remain unlocked because they know what a shambles the EU Store is. Whatever the reason, we're glad for it. Hopefully we'll hear about the EU rollout for the video store soon.