>So I imagine the games would play quite similarly, just with a lower refresh rate in Europe?
That was my assumption as well! But nope, gameplay was coupled to framerate for a surprising range of years.
You can see comparisons on YouTube, check the music of the pal/ntsc version of sonic for the genesis/megadrive.
Apparently it was still happening to some extent during the PSX era. I remember the turn meter bars in FF7 filled very slow, and this explains it.