GC Pro Action Replay question

I was planning on getting a freeloader till I learned that the GC Pro Action Replay can also be used to play import titles. There's another reason. Many people on the Gamefaqs board are saying the freeloader will format your memory card (meaning that it will erase all your US save files and will only allow you to save JP games). So I was wondering if this is true, and if the Pro Action Replay lets you save US and JP games on the same card. I know the freeloader costs less, but I'd rather pick up a PAR at Wal-Mart so I can take it back easily if it doesn't work.

the Action Replay will do the same thing

when you boot with a different region it formats the memory card

I would suggestion buying a seperate memory card for your UK or Japanese Imports

D'hoh.
Thanks.