Taken from Action Replay HP:
Action Replay even lets you play import games on your GameCube. Unleash the power of Action Replay this Summer, rrp £29.99. Available to preorder very soon!

As much as I hate AR/GS (mainly for ruining whole PSO scene), if it does let you play imports that easy w/o mod, I'll probably have to pick one up. As long as US version of it does the same & if I see the import GC game worth picking up, that is...