Are you sure you can even slip stream office ?
I only know that you can slip stream win2k. Never heard you could slip stream office 2K.
I guess you need to find out if the setup.exe for office 2k sr1 has an -update switch or something similar to update the contents of the office installation dirctories (you will have to copy the contents of the office setup disk to hard disk in order to update it with sr1), if it is at all possible to slip stream it.
But if you do find out how you can do it - could you post back - as i am interested in knowing as well.