Time Code features on V1
 

As I've never had a pro camcorder, I'd be grateful to someone knowledgeable for some practical hints (or links to some net reading) on the use of Time Code / User Bits etc. Of course I know what Time Code is, but my workflow with previous cameras and NLEs never really required the extra functionality the V1 offers (I'm sure all the Z1 users know what I'm talking about). BTW, does the Canon XH-A1 have it, too?
Following is the list of TC functions I'd appreciate some comments about (some are self-explanatory, of course):

TC Link
TC/UB Display
TC Preset
UP Preset
TC Format
TC Run
TC Make
UB Date Rec.
Zero Set Memory

Seems like they are all there.

Yes I know Steve, but however dumb it may sound, I wouldn't know how to use them. Could you provide some short description of them?

TC Link - this probably refers to TC jam sync via firewire, new on the V1, handy for syncing multiple (V1) cameras in free run mode (see below)

TC/UB Display - see TC or user bits in the display

TC Preset - set a starting timecode, could be zero, could be time of day, could be hour 1 for tape 1, etc.

UP Preset - should be UB Preset, user bits are an 8-bit word embedded in the timecode that can be set to anything you want, like tape number or whatever. Most NLEs do not give an option to view this, but you can view it on tape playback in the camera or recorder.

TC Format - will be DF or NDF, Drop Frame drops some frame counts so that timecode corresponds to real time even though the tape is not quite 30fps. NonDrop-Frame pretends that tape is 30fps. Contrary to popular belief, this all has nothing to do with the real frame rate, no frames are dropped, just counts. It can be a little disconcerting with DF when you go one frame forward in your NLE and the count changes from 1:29:27 to 2:00:00...

TC Run - record run or free-run. Some NLEs don't like free-run. Most people don't care. Anybody synching multiple cameras or dual-system audio wants free-run, meaning that the TC generator keeps on incrementing regardless of whether tape is running or not. This can lead to TC breaks that FCP doesn't like... Record-run is more like a tape counter.

TC Make - ummm, right. I forgot. Regen (regenerate) or ???

UB Date Rec. - record the date in the user bits.

Zero Set Memory - don't know. Reset TC & UB to 0?

Thanks Seth!
Does anybody know if similar options are available with the Canon XH-A1?