I really don't want to buy this game again only to find out I can't play it from where I live :(
First of all... you don't have to buy it again. If you bought v1.0 then you don't have to buy it again. Merely download the game from with your SE Account that was tied to v1.0.
I'm also very confused regarding the server access, is it region locked, or global servers (ala FFXI?).
You can choose any server that you want.
There will be servers located in Japan, North America, and Europe. People in those areas will more than likely choose a server closest to them for latency (speed) reasons and language reasons. For those of us living on this side of the world connecting to a server in NA or EU will cause a significant amount of lag. Also, even if we are playing with players of the same language... we will be playing when they are all asleep :P
I am going to roll on the Japanese server Tonberry. This is the "new" server that South East Asians and Oceanic players are claiming as their "unofficial" server. So even though it is a Japanese server, there will be a handful of English speakers online at peak times.
I'm in exactly the same boat, living in South Korea. I also have had no experience trying to connect to an SE MMO since I have been living here, however the replies in this thread seem somewhat confusing.
SE blocks South Korean IP addresses. In order to log in you will need to use a VPN service to re-route your IP address. The one that I mentioned before is free and pretty awesome. It is based out of a university in Japan and has a number of servers that you can connect through. Also, you can connect to servers in other countries like USA. Now you can use Netflix! Check it out... and if you have any more questions post here and I'll try to help you out.
Also, you may want to check out some websites for other players in our timezone:
http://oceania.guildwork.com/ -- comprehensive for all Oceanic Players
http://www.synapse-guild.com/ -- the Linkshell that I just joined. Everyone here seems pretty awesome. I definitely recommend these guys.
http://mirai.guildwork.com/ -- another newer Linkshell