I noticed this in the product brochure. Slow Motion up to 2.5X. I don't think I noticed this before, then again my last version was like 3.0 I think

What exactly is this? Why would Cineform files have better slow motion?

How exactly do you get it to slow down? I am assuming that this is on 60/50i footage and not 24/25f footage?

That is 60p to 24p conversion (for 720p sources like the HXV200 and Varicam.) We don't have a 60i to 24p as slow motion option (yet.)

In other words, the slow motion is just obtaining the motion of 24p from 60p footage? So its not slow motion as in variable frame rates? (like really smooth slow motion)

The opposite, the is precisely the way to get really smooth slow motion, over-crank in camera then re-clock the frames for playback.