A video recorder and playback system for storing video information consisting of video frames successively presented at a standard frame rate, each frame having first and second interlaced video fields, and for playing back the video information in a desired sequence to produce a video output signal, providing either slow motion or normal motion effects when viewed on a monitor, includes a frame recorder. The frame recorder has a rotatable recording medium, first and second transducer means for recording and playing back video frames in recording tracks on the recording medium, and means for rotating the medium at the standard frame rate such that a video frame is recorded in each of the recording tracks. A field store is responsive to the recorder for storing a field of video information replayed from the recorder. A switch is connected to a field store and to the recorder for providing at the switch output video information from the field store or the recorder in response to a delay field signal. The switch changes switching state and the transducer means are stepped to provide at the switch output replayed video information in the same sequence in which it was recorded or, alternatively, in a sequence different from that in which it was recorded, with the sequence of fields within the frames properly ordered for interlace. The video recorder system also includes a circuit providing a cue display signal on a video monitor which is indicative of the progression of the transducer means to successive tracks during both recording and playback.