Slackware takes a different approach than other popular distributions such as Red Hat, Debian, SuSE, and Mandrake Linux. There is a disdain for packages, where related files are grouped together and managed as one entity. For example, even a simple application such as cron would be packaged as a set of files containing the executable, documentation, and configuration files. While this can make installing a new application relatively simple, Slackware users feel that packages limit their flexibility.
Slackware latest stable version is 8.0 at the moment of writting this, which include XFree86 4.1.0, Linux kernels 2.2.19 and 2.4.5, KDE 2.1.2, GNOME 1.4, glibc 2.2.3, and all the usual utilities. Additions include ProFTPD, OpenSSH and OpenSSL, mod_ssl and mod_php, full support for the 2.4 kernel series, and many more.
There is also a -current version that can be used if you like bleeding edge.