First off, BTM_Pix, thank you for that. Makes me feel better about being confused. Sad to see it scattered like that.
Secondly, thank you newfoundmass - that's what I feared. And judging by the document that BTM provided, it looks like it might be in camera, because it lists one frame rate, and then another. The least intrusive would probably be 120 to 60fps...which by your math would give us 25mpbs per second which isnt awful. Of course from there, one would have to go in and then slow it down even more in post. It's not the extra work I'm worried about or even the 46% the VSM is locked at. Now I am wondering if the final file made by the camera should be slowed down even more.
In theory, it shouldn't matter. The shutter speed was the same no matter what, so as long as you arent REALLY compressing it when slowing it down, again, it shouldn't experience that much quality loss. Maybe a bit of a convoluted system, though. (Record high speed, import, slow down again, render out high quality) - unfortunately that makes the most sense, because 50mbps divided by 5 is only 10mbps and that is awfully low. (120 to 24fps)