Actually you are both kinda correct. The KRP500M 50" Kuro and KRP600M 60" Kuro were both developed for the European and Asian regions. However, Pioneer NA decided to build them for the USA commercial market. Sales were very low and Pioneer opened up sales to a/v dealers.
Because their is no QAM or ATSC tuner, no stand, no speakers and only Pioneer 1 year warranty the price point is much lower and now they became the custom installers dream. Serious A/V dealers like the panel very much and Pioneer quickly decided to keep their Pomona CA manufacturing facility open an extra month, till end of April '09 to build KRP-500M and 600Ms.
KRP stands for Kuro Reference Panel and they are very much like the USA Signature Series PRO-101FD and PRO-141FD monitors. Plus they have built-in stereo amplifiers, which the Signature Series do not have.
The disadvantages are:
1. No ISFccc day/night modes.
2. 1 year factory warranty vs. the 2 year Elite coverage.
3. No sub-woofer output
The value is outstanding and the only thing that tops the pq is the low price.
Enjoy!
-Robert