seven sixty-four fifty:
I use both and NEVER slap.
It's two different sounds. I really into getting a lot of different tones just by moving where I'm picking from just against the bridge up to the end of the fingerboard. I really believe it's a rebellion against basses with three-band EQ on board and PODs . . . believe me, you can do a LOT with attack, where you pick, the pickup blend, and a tone control. I'm old school . . . if the sound isn't in your hands to begin with, a fortune in effects and digital tricks won't completely 'sell it'. Plus, where are you without them?
Certain things sound better with a pick, certain things sound better fingerstyle. I agree with Anthony Jackson, I refuse to 'slap'. It reminds me of the hair-band guitarists of the 80s, pick only every fourth or fifth note, hammer-on and pull-off the rest, and YOU TOO will sound like you're really fast!
Incidentally, using a pick to record gives a VERY defined, firm bottom to any project. My weapon f choice is a Fender heavy triangle (355 style).
J o e y