Also, how much do conference or AA awards matter? If the answer is any significant amount, then shouldn't everyone play slowdown to limit possessions and by extension everything else statistically? I don't think the engine uses per minute stats is that correct?

Stats matter just a little. If a guy scores a ton, it will definitely increase his chances of leaving. If a guy scores 6-8 ppg instead of 12 ppg, the difference is little or nothing. National awards are a factor, though not one of the major couple factors. Conference awards have no impact at all.

It's mostly ratings and team success. So the drawbacks of playing slowdown if you have a strong team far outweigh any small EE benefit.