Yes, the Slipstream with a torpedo is just too powerful. LFs were made for thwe sole purpose of fight combat, with the VHFs taking the balanced (fighter and cap-ship combat) role. Having a torp on a slipstream would make it one of the most powerful ships. Imagine a slipstream with a sidewinder. Could take on 15 player contolled fighters never get hit and take them down very quickly.
It took me 15 minutes to kill Micro's Slipstream and he had just gotten it.