It's nothing you or I need to fret over; absolutely leave it at the default because motion prediction in Mainconcept is already optimized for both speed and accuracy..
"In the latest international standard, known as H.264/MPEG-4 AVC, the granularity of the establishment of prediction types is brought down to a lower level called the slice level of the representation. A slice is a spatially distinct region of a frame that is encoded separately from any other region in the same frame. In that standard, instead of I-frames, P-frames, and B-frames, there are I-slices, P-slices, and B-slices."
That's an oversimplification; slices should be left at their defaults to keep from messing with interframe motion prediction, an important consideration with b-frames.
They are "not" player-dependent, except that a few much older devices (the first gen iPod) don't support b-slices at all. For those devices, only Baseline Profile should be used. Hope that clears it up for you.
Perhaps the quality suffers due to independent rendering, but my AMD 8350 8 processing streams processor runs at 67% at 8 slices, vs 50% at 1 slice, with like reduction in elapsed time (at least with Sony's CODEC).