err... no! very bad!
the slipper is designed to slip under first acceleration and on landing from large jumps. this absorbs the shock to the transmission, otherwise the diff gears take the full strain.
to set it, just put the car down and floor it for a few feet. the wheels will spin a lot. Loosen the slipper off a bit then try again. keep doing this until you here the slipper "whine" for the first couple of feet under acceleration, and you shouldn't have to much wheel spin.
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