Yes, I got sold that line to when I bought my LMII 4 years ago from mainland Europe and its never missed a beat. The voltage thing is a red herring, as someone else has said, our voltage here can vary considerably. Its even possible to convert a US 110V MB to UK voltage by just moving some wires so i don't think the voltage regulator ( for want of a more technical term) is market unique.
Re the cutting out, I think its a known issue, I remember a huge thread on Talkbass some years ago when MB first hit the US