Time slows down = partially leaving the body, or precursor?

[anagogy]

There is still a subjective time experience even in dreams.

Yes, but the further you get away from the physical world, that subjective feeling of time passage gets more and more separated from the subjective feeling of time passage that you would feel in the physical world.

Time stretches out, in other-words. Your consciousness speeds up, vibrationally, so relative to the physical world, you might have more experiences per unit of physical time (as Ra would say the inequity is thrust upon the shoulders of time rather than space, so there is more time per unit of space). As you move away from the physical, the space component gets smaller and the time component grows larger. But when you are on these other planes, the feeling is "business as usual" because it is all relative. Though if you were to interact with higher vibrational beings they might seem crazy fast and intelligent to you, because they are even closer to pure supraluminal velocity or pure time.