1) PS2's can read Movie dvd-r whitout a swap/modchip
so yes no need for modding it,but you should mod it anyways
2)PS2 version 1 t/m 3: only reads -R ! no RW and +
version 5-7: Reads both!
so if you buy it those days it sould read all of it
about the bitrate,just try it out m8