something like parallel import with international warranty, so the warranty usually not recognize by the local service centre. However, the shop that sell you the product will cover warranty. They may actually send it to the local service centre for servicing on your behalf.
if shop is dependable, then ok. A lot of people buy grey products from The Camera Workshop in Peninsula. You can do a search for TCW and you will find a lot of comments etc and you can see that a lot of people buy grey from there as well. (though some are saying that the price difference is getting lesser).