Downloading the games isn't blocked in any way, at least until now, so don't worry about that. The only thing you should know is that if you have a credit card with a European billing address the PSN store probably won't accept it. In that case the workaround would be to buy digital codes for PSN from online stores (here is a guide for Amazon:
http://wololo.net/2013/06/27/how-to-pur ... in-the-us/ ). The same is more or less true if you want the EU Plus games, but live somewhere else (here is a guide on that:
http://www.reddit.com/r/PlayStationPlus ... res_how_i/ ). There are even people that have both EU and US Plus, although to do that you need two different accounts and, in the case of Vita, two memory cards because memory cards are tied to an account.
Note that having an account outside of your region is a breach of the Terms of Service, which technically could mean trouble, but I don't know of anyone having any problems with that.
The EU collection:
http://uk.playstation.com/playstationpl ... collectionAnd here is an image showing the free games in the two different regions: