All NTSC, PAL and HDTV distribution masters made from that Telecine Transfer Color Master take anywhere up to 3 to 5 times the length of the source to process. In order to simplify the process and make it more economical in the post production area, a simpler way has to be found. It is progressive. It is at the same frame rate as the film. It will compress more efficiently than other HDTV formats.
Time code is the same as the film and is non-drop frame.
But there are some problems that rear their ugly head. If you've ever watched a movie at 24 fps with a single-bladed shutter in the projector, the flicker would drive you nuts. 25 fps is no better. Almost all movies today use this technique. Viewing a movie at 24 fps with a three-bladed shutter has less flicker but more light is required because of the smaller amount of openings in the shutter.