Xbox Live region locking

I've had an Xbox for a few years now and a principle issue I have had with Xbox Live is it's region locking. Now that the Xbox service has moved over to Windows 8, I feel that Microsoft really need to change the way they handle devices outside their 'home' region. For example, my Xbox live account is a US account, but I currently live in Canada. I pretty much can't use some Xbox Live services on my console and more pressing, on my Windows machines. I can't actually rent a movie off Xbox Video and other content. I can appreciate the system when Xbox live went live ten years ago, but with people traveling all time and moving these days, it seems silly to not allow me to navigate the world without accessing content, even if it's locked to the region I am physically in at the time I wish to purchase, but just flat out saying no seems broken and too old school to be acceptable in this day and age. Anyway else find this an oversight on MSFT's part considering how the other stores navigate world wide without issue? Cheers Peter D