I shot a video with a 5DM2 camera. Everything at 1/60th shutter speed, and I am wonder what people think is the best method/plug-in to produce slow motion. I am editing in Premiere, but I'm wondering if AE or a plug-in would give better results?
if you're going to use AE I'd say use time remapping (Layer>Enable Time Remapping)
It's pretty easy one you understand the basics,, there's a really great tutorial by Aharon Rabinowitz that explains it pretty thoroughly. The tutorial is for freeze framing, but it covers slomo as well.
However, you will always get much better slow motion if you actually shoot at a higher frame rate. Most American video is 30 frames per second (or 60 interlaced frames). For good slow motion you want 120 fps or higher. Sometimes much higher, depending on what kind of stuff you're shooting and how slow you want it to look.
When you say shot at 1/60th shutter speed I say that was a bad decision. A shutter speed that slow will very likely allow motion blur that will make any slow motion look terrible.
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I just did some slo-mo on some pretty bad green-screen footage shot on a D90. I used Time Remapping with Frame Blending (Right Click on the layer--> Time Remapping--> enable time remapping, Frame Blending--> Pixel Motion) and it looked pretty slick. Time Remapping is a little tricky at first but well worth learning, much better results than any of the effects. Basically just make a keyframe and then drag it out!