answering a few of your questions
I own the Canon XH-A1. It is a great camera and I hope I can shed some light onto your questions.
24F is a frame rate that you can use so that the footage you capture will have the motion cadence and look of film. This is the frame rate that film cameras shoot at and that is why hollywood productions, many tv shows, etc. have a different looking motion than regular 60i video. 60i (interlaced) video is typically used in reality television, news footage, etc. If you have owned video cameras in the past before the introduction of 24p technology for independent filmmakers, it most likely shot exclusively in 60i.
I won't go into explaining how they are exactly different, because I could write many pages on how and why things are the way they are, including the history of television in using the interlaced scan for broadcast. The point is, if you don't want it to look like a movie or narrative project, use the 60i setting. If you are making a movie, I advise you to use the 24F setting.
As far as the manual iris goes, i'm not sure what your problem is. You may have the camera wheel on the left side on "A" which stands for Automatic. If you put it on M for manual you can control everything manually. With that you can change your F-Stop which determines how much light is let in, and you can also control your focus, and shutter speed with the rings on the lens.
Presets are things that you can use in order to get a certain color look or gamma setting, etc. while you are shooting so that you don't have to do as much in post production to fix the look. For example, I use the custom preset 9 a lot, which I'm pretty sure in factory settings is already set to have the color reproduction (or at least fairly close) of film. I use preset 1 if i'm shootin regular reality video most of the time. Those are just a couple examples.
iAF is instant auto focus. With this on, you camera should automatically focus on objects in the center of the frame quickly without any extra work on your part. This is handy for run and gun documentary, or reality shooting, but I would suggest always manually focusing when shooting narrative film projects, so that you can focus in on certain areas and leave certain areas out of focus.
White Balance. With this you have a present of 3200k which is basically most indoor incadescent light, and the 5600k is for outdoor shooting. However, let's say you use the 3200k indoor setting while shooting outdoors in the bright sun; if you do this, you will get a very cold blue look because the setting is expecting the less hot kelvin temp. and therefore reads the image incorrectly. Some people actually do this on purpose. I usually don't ,because I make all of my color changes in post usuallly.
I hope I answered all of your questions. If I wasn't clear on anything, let me know. Does this help??