I've seen people convert the video from a SR1 over to 24p and it looks good for what I'm wanting to do, I really like the SR7 for everything it does, even if the 240fps is a little worse quality, its a fun little feature.....

The main question here is, I've seen the HG10 24p, can that be simulated on the SR7 with Dvfilm maker...or using Vegas?

The motion blur won't be the same, but you can produce 1080p24 out of 60i.