Hi Drew, Thanks for correcting me. The crop factor is actually 1.39 and I totally forgot to multiply by it. So here what I think the equation off Speed Booster For Canon EF (full frame lenses) which has a magnification of 0.71 and sony Super35 mm which has a crop factor of 1.39:
FF lens focal length x Speed Booster magnification x Crop factor = Full Frame equivalent Focal Length
In my case at the widest 16mm:
16 x 0.71 x 1.39 = 15.79 almost 16mm FF
At the full Zoom 35mm:
35 x 0.71 x 1.39 = 34.54 almost 36mm FF
Therefore, the speed booster from Metabones gives me the advantage of a FF lens on a Super35 
It also makes the lens faster by one f-stop. My 2.8 becomes a 2.0 
I have asked on the Sony community about the corner sharpness when using the speed booster and got a confirmation that it is good. And as you've said for motion/video it will not be noticeable.
With this setup, in air, the lens doesn't show distortion at the widest and it produces a little wider feild of view than the 12mm Zeiss.
Do you mean the distortion will be more obvious behind the dome in water?
Kevin Palmer, who is a very supportive customer oriented person, from Reefphoto has replied to an email I sent to him yesterday clarifying that he took those stills with the Zeiss 12 mm behind a 7 inch dome at 5.6-8f. Now the 12mm on 1.5 crop factor is equal 18mm FF. The images that he produced were amazingly sharp and distortion free.
Please remember I am not using video lights and that I'd like to take advantage of the fast lens I am using. I know it's quite a challenge.
Drew, is it possible to correct the 11mm to 16mm in the post title?