Scott,
Sorry, but the Varicam is an HD camera with no internal downconvert either standard or as an option. There are third party converters from sources like AJA, but mostly for use on Steadycams and Jibs that are already outfitted with specialized SD monitoring. For general HD moniroring the standard entry level monitor seems to be the Panasonic 8.4″ HD LCD. It can be used mounted on the camera, more or less as a color viewfinder, or seperated from the camera with a battery attached (it has an AB plate on the back) for the director to look at.
It is not totally adviseable to use a SD monitor for HD production as the color gamut is different and issues of focus cannot be properly addressed. Simply put, an HD monitor should be part of ant basis HD camera package and I just include it in my package rate when I rent out Varicams.
JS