Ah, good. I was going to reference Mick Striders thread from the Srider forum. I see that he has beaten me to it. The way I like to look at it is both can do the job, depending on where the attack lands. I find myself going for the thrust when a killing blow is wanted.
As Mick says in his thread, the most effective way to end a fight is to attack the central nervous system. Few knives have the capability to sever the spine or penetrate the skull with a cut. However, even a cheap balisong can sever the spinal cord with a well placed thrust. I havent done it, heard it on the news a while back (~2 years). There are lethal/incapacitating targets for both slashes and thrusts, but, with the above exceptions, the ones that come to mind for slashing are slower than the ones for thrusting. I found out last night that thrusts are surprisingly instinctive for me at least. While doing some knife training, I found that slashes tended to be disarming type cuts to the forearms/hands, while the thrust was the finisher.
And now for a little tale. I was talking w/ a fellow who claimed to be a former combat medic for a SF team. He was in his late 40's to early 50's. He said that he had quit/been discharged after being attacked by a guy wielding a kuhkri(sp). It was a surprise attack that had nearly taken off his leg. Do I believe the story? Sure, I dont have any reason not to. Do I think this is a fight stopping blow, absolutely. Is this a blow that can be achieved w/ 90% of the knives carried, no. Conclusion: unless the knife in question can sever a limb, or reach the CNS with one blow, try to stick to thrusting. Cuts happen, and people react before they can think, but for most of the knives carried by the populace, the thrust is the most efficient way to go, if your objective is to kill/incapacitate. If the objective is to get home safe, slash or thrust or whatever and get away. More training should be dedicated to wind sprints, while keeping in mind that you can be cornered.
Disclaimer: I have only been training for less than a year, so feel free to throw this out the window.
Thanks Mick, for breaking things down into simple, straight forward concepts.