Just had a play in Premiere 6, It slows down both the video and Audio, but it changes the pitch of the audio, and I couldn't find a quick option for not changing the pitch aswell, or changing the pitch only sfterwards.
however, I had a play in Audacity, which you can download for free here: http://audacity.sourceforge.net/, and it's pretty easy to change the speed, then adjust the pitch so it's normal again.
so you could export the audio as a wav from your project, then edit the audio in Audacity, and export as an mp3 or wav, and import that into your studio 8 project.
a pretty round-about way of doing it, but its free.
Panasonic SD9, Panasonic NVGS-75, Canon MV600i