I dont know what you mean by "slotted" ?
I have pegboard on the wall behind my workbench, and Honestly, I dont use it. There is a shelf going across the top that I use for small parts and stuff, and I have a little small parts organizer mounted there. I think When we go to redo the workarea (soon) we will put up more pegbaod and actually use it.
If you have all the hooks and clamps fr it, then its great!
Jim