Correct. Slotted rotors will cause the pads to wear down faster. Those slots help to vent out any gas buildup from pad-to-rotor contact. They also help to keep the contact surface of the pad clean (hence more dust and more wear) to avoid/minimize any glazing. The result will be better contact, reduced brake fade, and shorter stopping distance. It's worth it for the cost of reduced brake pad life.

I will further qualify my statement on Mintex Red Box pads. For non-agressive driving, those pads will do well. They use a different material that will produce less dust, but not much less than OEM. The material used creates dust that matches closer in color to the wheels. That gives the appearance of less dust.

Red Box pads are designed for people who are more concerned about looks rather than performance. My local tuning shop has done their own tests to find out that the pads will actually increase the stopping distance compared to OEM pads (all other components remaining the same). If you don't put on a lot of miles or don't have a need to carve up a twisty road, then they will be a good choice.

I love the Hawk HPS pads. They definately have more bite and will produce dust similar to OEM, but the stopping distance is better and can handle more heat from agressive driving.

To handle the brake dust issues, I usually wax the wheels twice a year and then wipe them down with a clean terry cloth towel after washing or going out for a drive (only do the wiping when the wheels are cool).