Standby Mode - Does it work on Late 2012 MacBook Pro (non-Retina)

Question

I have read many articles today and I remain a little confused.  I have seen the Apple discussion at http://support.apple.com/kb/HT4392 regarding "Standby Mode", but I appear to have limited progress.
Can the community verify if "Standby Mode" (controlled by pmset) be used on a late 2012 MacBook Pro.  This is a model without the Retina display, however, when I do pmset -g... I do see standby in the display (as seen below) which implies it should be active.
When I look at pmset -g I do see the standby line item, but if I set to "1", the unit still appears to not want to enter true hibernation.  I have hibernationmode set to 3 so that true hibernation only enables after the standbydelay period that is defined.  Obviously, if I set hibernationmode to 25, a true hibernate starts immediately, but I don't really want that, I am looking for the delay function that standby enables.
I have reset the SMC and currently have the following pmset conditions (modified for testing)
Battery Power:
lidwake              1
autopoweroff         1
autopoweroffdelay    14400
standbydelay         60
standby              1
ttyskeepawake        1
hibernatemode        3
hibernatefile        /var/vm/sleepimage
displaysleep         1
sleep                2
acwake               0
halfdim              1
sms                  1
lessbright           1
disksleep            10
AC Power:
lidwake              1
autopoweroff         1
autopoweroffdelay    14400
standbydelay         1800
standby              1
ttyskeepawake        1
hibernatemode        3
hibernatefile        /var/vm/sleepimage
womp                 0
displaysleep         10
networkoversleep     0
sleep                60
acwake               0
halfdim              1
sms                  1
disksleep            10
Also, an auxilary question.  Can anyone explain the autopoweroff and autopoweroffdelay settings?  They appear to undocumented in manpages and can not locate any info on the web.

Answer 1

Thanks for the input Michael.
The thing that started this, is the new Late 2012 MacBook Pro simply uses much more power in "sleep" mode than what I experienced on my old Late 2007 White MacBook.  Every night, the "sleep" mode would result in almost a drain of the battery and the result is that I was unneccessary cycling the battery. With no OS revisions to address this, I have changed the defaults to enable hibernate for both the charging and battery mode.
The strange thing about this is that even to get a true hibernation in battery mode I have to unplug all USB devices or the device will not hybernate.  Again, never had to do this on the old White MacBook and the power usage at night was very small.
This works for now, but I think a device should sleep with very little (less than 4%) power loss when power is disabled.
Thanks again for the input.  Here are the current settings.
Battery Power:
lidwake              1
autopoweroff         1
autopoweroffdelay    14400
standbydelay         1800
standby              1
ttyskeepawake        1
hibernatemode        3
hibernatefile        /var/vm/sleepimage
displaysleep         1
sleep                10
acwake               0
halfdim              1
sms                  1
lessbright           1
disksleep            5
AC Power:
lidwake              1
autopoweroff         1
autopoweroffdelay    14400
standbydelay         1800
standby              1
ttyskeepawake        1
hibernatemode        3
hibernatefile        /var/vm/sleepimage
womp                 1
displaysleep         10
networkoversleep     0
sleep                60
acwake               0
halfdim              1
sms                  1
disksleep            5