Did you try my method that I described here???
http://forum.cdrsoft.cc/showthread.php?s=&threadid=24086
I have achieved to slipstream sp1 and sp2 with this
Begin with SP1:
msiexec /p c:\o2kadmin\sr1\data1.msp /a
e:\mi-team\2000pro\i386\$oem$\office\data1.msi SHORTFILENAMES=TRUE /qb /L*
c:\o2kadmin\sr1.log
c:\o2kadmin\sr1\ is the path where you unpacked the data1.msp of SP1
e:\mi-team\2000pro\i386\$oem$\office\data1.msi is the path where you copied the content of your Off2D-CD, data1.msi is in one of the subdirs, point to it
I dont know anymore if the c:\o2kadmin\sr1.log is to be put directly after the * or with a space in between. For sure it belongs to the same line as the rest.
Good luck