Hello,
Regarding the Sony DVP-CX985(NTSC).
http://www.world-import.com/dvp-cx985.htm

I have both PAL and NTSC dvd's, so can I use the two composite connections on the player and connect both to my tv and switch between them(i.e switch between PAL and NTSC) with my tv remote.

I would use a NTSC->PAL converter for the NTSC connection.
My TV is PAL only.