Mike, you don't need extra slits as long as you don't use the screw-on cap. However, I find it easier to make a few extra slits in the top so that, when weather warms, it's easier to make extra openings with a start already there. (it's more of a challenge to cut jugs when they're full of little seedlings). That's why I usually add a few slits when initially prepping a jug.
I can hardly think about plants and seeds and gardening now. I still need to get a few Christmas gifts, wrap everything, do Christmas cards, put up a tree and decorate the house, etc. Ugh! And we're so busy at work, it's awful. Everyone seems to wait until the last couple of weeks of the year to have their surgery.
Karen