Building a distro package is preferred over running a standard compile and install for most application because you want the resulting application of library to be properly referenced and manged through your package manager.
So, I figured it is time to share some good links and give the information necessary for new and experienced users to make their own packages of the various applications and libraries that they wish to use on their systems.
For information about making a Slackbuild script refer to http://www.slackwiki.org/Writing_A_SlackBuild_Script
To find recommended compile time agruements and see working scripts for examples you can look at the scripts on http://www.slackbuilds.org or look in the sources directory of your installation disk.
Once your scripts are complete you can submit them to http://www.slackbuilds.org to share them with the community.
If you are attempting to build a package and having issues feel free to ask for assistance here.