I can go into great detail but i wont........ yet.
Basically slick 50 is loads of tiny particles of plastic in your engine, it can ware components, clog the oil fitter and it will tend to just sit in the lowest pressure parts of the oil system.
There is evidience to back this up in the form of independant tests.
Also slick 50's idea is meant to give a teflon coating to your engine right? thats the whole benefit.
Well the teflon coating ptfe id made and sold to slick 50 by DuPont.
DuPont have publicy said slick 50's claims are totaly false and its impossible, they were (or may still be) in a legal battle with slick 50 to remove all reference of teflon or ptfe from the product and be allowed to stop suppling them.
My uncle is a race engineer and advised me against this when i had the idea, i then researched it and its all bad i assure you.
I have a big thread on my forum i will try and dig out.
Heres what i was looking for... read this if you still want to use or do use slick 50:
http://www.repairfaq.org/filipg/AUTO/F_Slick_501.html