It depends on how linear your game is. If there's any chance the player will want to replay a section (to see if they could have solved a problem differently, for example), then one save slot is a very bad idea. Sometimes if I get stuck in a game I like to go back to a previous save and try doing things in a different order, to see if that triggers something or gets me "unstuck" by making me think in a different way. And if there's any possibility of multiple puzzle solutions or multiple paths, I resent the developer forcing me to replay rather than making it easy for me to restore from a saved game.
I think unless you have a very good reason, putting in only one save slot is just going to alienate players who are used to multiple saves.
-emily
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