Simple experiment with a HC7E camcorder, using its 250fps smooth slowmotion mode which records a short burst of high-framerate video to memory at something like 1/16 resolution of normal HDV video. I took this video (of my sister's dog eating a meatball) from the camera and quadrupled the framerate using the MSU interframe interpolation filter for Avisynth. The filter works pretty good so long as you have continous, linear footage. It doesn't detect scene transitions, however, so the transition from video to the black frames between the shots kind of looks weird.

MSU frame rate conversion filter:
compression.ru/video/frame_rate_conversion/index_en.html

Apparently there is a newer version of the filter which is much more advanced, but it is only available for commercial licensing.

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