GoPro Hero3 240fps slow mo?

I recently purchased a GoPro Hero3 and shot some clips @240 fps in WVGA mode.
I imported the clips into Final Cut 7 and now I can't figure out how to get the extra smooth slow motion effect.(not the choppy, blur slow motion effect you get by reducing the speed by right clicking the clip.)
All the tutorials I have seen on YouTube are done easily in Final Cut X. Is this possible in 7?

Any help greatly appreciated.

Download Cinema Tools and drag your 240fps clip into the program (or open it via cinema tools.. whatever you prefer) and once its in there.. there will be a screen showing you video and a side bar showing tools and options. There will be a button at the bottom that says (Conform). Click that button and it'll give you options like 30fps, 29.97fps etc etc. Select what you're using for the final cut track (probably like 30fps or 24 fps?) and and just click done. The original file you dragged in or opened in cinema tools will be the conformed one so I'd suggest making a duplicate copy of the footage and naming one " ____ Conformed". Locate that "___ conformed" file and open that in final cut. BOOOOM!!!

There ya go.

Thanks a ton!!!

If you happen to have AE, you right click the sequence [Interpret Footage] and set to 24 or 30. The video will run at 24 or 30 (or whatever you choose) but will be nice and slow.

I've been eager to see some of the 240fps footage. I considered selling my H2 for an H3. I shot some guns on 120fps and it looked awesome!