Another X-Box question. Importing X-Box from OZ

Not sure if this has already been asked already, but I was thinking of importing one from OZ.

I know that PS2 games can work from OZ as these are PAL. So therefore I presume that an OZ X-BOX will work prefectly fine in the UK ? Will there be other issues I need to consider apart from maybe getting wacked by Customs & Excise in the U.K

** Just realised that I should have posted this thread in the gaming hardware section. DDDDOOOHHHH !!! Mods feel free to move **