I can relate to the issue of AE being daunting. I bought the package as a bundle, installed both programs (already had photoshop), tried them both out ...and BAM! Became addicted/crutched to premiere. I just recently (see my recent post-same thread) had to pick up AE again/ for the first real time. Granted on terms of being a master editor I'm about .000000345 on the richter scale, and I guess that gives me a great perspective on the differences of premiere vs. AE (even though they are made to complement eachother).

Premiere = Easy learning curve, great image control, superior quality with little time.

AE= Same as Premiere except the learning curve is much much higher.

As for slo-mo effects that's about a 3 stage sneeze in Premiere (aka easy as pie), no idea about AE, I'm still tinkering with uploading raw files and adding effects to use in Premiere =P. *Gets a glazed look in his eyes* "Wow how'd I do that?" *scratches head*

P.S. - I'd like to take this moment to thank Marc Peters for coming to my "newb" post and spoon feeding me. Pssst checks in the mail! *wink wink* *nudge nudge*