Thanks for replies so far. asw 28-866 - If the slat cables stretched over time and caused the "floating" you describe, this suggests routine maintenance of the cables was lacking - not faulty cables. Most components, if not serviced to manufacturer's specified time limits will inevitably cause problems down the line. While the IAS stalling speed difference may be negligable, the CAS stalling speed is what counts. There is no doubt the slats act as an effective stall warning device.
Removal of a component for reason of servicing costs can lead to undesirable results. In 1992, a Tiger Moth spun in during the execution of a simulated engine failure shortly after take off at 300 ft. One pilot was killed. The accident investigation board criticised the operator for locking the slats in the permanently closed position (to save the bother and costs of servicing). Litigation quickly followed.
The Board of Inquiry stated the accident might have been avoided if the slats had been operating as they served as an effective signal of stall warning and a slower stall speed.