So far the Xbox 360 has had a ton of 2D shmups but they've all been region locked to Japan with only a couple coming to America, and none coming to Europe
But as an experiment Cave are releasing their next home port: Mushihime-sama Futari region-free. They've basically said its a test to see how big their Western audience is so if this does well, it could mean future titles also being region-free or released overseas.