There is quite of bit of speculation and misinformation in this forum post. Here's some clarification after reading all the questions and answers that have been posted to their kickstarter page, and also their updates section. (you too can see all of them yourself if you visit their KS page)
The Warrior 64 console kickstarter option, will use original n64 motherboards from NA and Japan (it's not emulation), which means NTSC only..... BUT, the DIY kit (which is cheaper than the full kit... $95 vs $150), can supposedly be used on both the NTSC and PAL boards, and that is why they made that install video (so you can see what would be involved if you bought their DIY kit). After installing their DIY kit onto your own NTSC or PAL n64 motherboard (if you picked that KS option), you would then use the supplied Warrior 64 case (that is included with the DIY kit) to put your modded n64 motherboard into. Considering you'd be getting a rgb/hdmi DIY kit, new console case, and a new controller (the controller is only for KS backers), $95 ain't that bad in my opinion.
For the more expensive full console kickstarter package, the rgb to hdmi kit is already installed for you, so no soldering needed. They also mentioned that the boards they are using in the full package, will be cleaned up and recapped, so you won't be getting a n64 board with 20+ year old caps that could go faulty at any time from age.
A basic jumper pack is included with the full console kit (but is not included with the DIY kit). Which means some N64 games can't be played on the Warrior console (like DK64), or be played with better resolutions (example, Star Wars Episode One Racer), but then again, if you already own a regular N64 console with the red top expansion pack in it, just swap it over to the Warrior console. Easy peasy.
There is only two real questions that they have yet to answer fully to everyone's satisfaction (and I agree 100% that people should have this information). The first is the type of rgb to hdmi upscaler being used, and the second one is about lag. They did say that they have played with their finished modded console for many hours and they didn't experience any lag, but they also mentioned that they didn't have the necessary testing equipment to do a proper lag test (like RetroRGB or MLIG could do). Unfortunately, with about 2 weeks left to go, and with their KS already at 150% of their original funding goal, there would need to be more than 1/2 the backers to cancel for this KS to fail, but I doubt that will happen, and maybe that's why they have yet to answer those two outstanding questions. (?) ?