ITS NOT REGION LOCKED!
You simply have two accounts now! One for European (pro7), one for US (SOE).
For subscription based games, that would suck indeed. But Planetside is F2P, means its not as important. You would only have to buy Station Cash for both accounts seperatly, but thats just a little extra hassle really. Check
Food Lion Ad and
Fred Meyer Ad. Its very likley that there wont be much account wide stuff to buy with station cash that you really want that damn much...
But im not happy about this at all. Dont want to get seperated and have to install the game twice...