The method listed there is not really "slipstreaming" in the sense one has
come to know the term when speaking of 'slipstreaming' an OS. On the website
you have referenced, they are simply applying an administrative (full-file)
update to an admin install point created by running setup /a
The term slipstreaming when talking about say Windows XP, means applying the
update to the "compressed" CD image files. When you create the admin install
point with setup /a you are uncompressing the files. Patching that is not
really the same thing as 'slipstreaming'. For instance, you can't take the
resulting files, burn them to CD, and have the same install choices you had
with the original CD.
One thing you lose with an admin install is the option to create a Local
Installation Source (MSOcache) on the PC. To do that you must install from a
Compressed CD Image (the orginal CD itself or the CD copied to a share).
Although you can't slipstream SP1 into such a Compressed CD Image, you can
chain its install. Please see:
http://www.microsoft.com/office/ork/2003/five/ch18/MntA01.htm
but note that there are lots of errors in the Office 2003 ORK text. One such
error is when using msiexec direct instead of using the oHotfix util, the
syntax given is incorrect. See my post here:
http://www.tech-archive.net/Archive/Office/microsoft.public.office.setup/2004-05/0607.html
(or better my reply to my own post there)