then no. some gifts (those bought in south america, for example)are region restricted, because Japanese publishers are a bunch of shitheads.
according to our all mighty FAQ:
Do not submit CD-keys or Steam gifts that have regional restrictions, or those that require VPN activation or methods to bypass regional restrictions.
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AFAIK according to this RoW version is un-giftable to this countries: BT BN KH CN HK ID JP KR LA MO MY MV MN NP PH SG LK TW TH VN.
So support decided to disable it.
Similar case is Stick of Truth and new Wolfenstein, where even ROW versions are unredeemable in Germany, but since it's smaller number of countries affected they can be gifted.
At least until games get large price reduce and someone(s) make(s) 100 giveaways of it, all won by people in Germany and Support will be forced to read 100 messages about it and rerolling them :).
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Are we talking about two different things?
I'm saying "if game disables AllowCrossRegionTradingAndGifting for your country/region, you can't RECEIVE game, even RoW version - you'll never see not-your-region-game in your inventory", while you're talking about "when you RECEIVE region restricted game you can't activate it".
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AllowCrossRegionTradingAndGifting doesn't affect ability to receive game from other countries as long as country where gift was bought is region free (US,UK,etc.). And if you can receive (without using tricks to skip checks) it you can activate it.
So US/UK,etc copies will be exactly like ROW copies even when AllowCrossRegionTradingAndGifting is disabled. (But copies from Brazil can't be gifted outside of that region)
(PurchaseRestrictedCountries doesn't affect gifts)
prohibitrunincountries will disable activation in these cases. eg. Wolfenstein.
http://steamdb.info/sub/41691/
You will also see any restrictions in inventory. (if any)
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