I learned to use the slip extensively when flying gliders and then later a Champ. I remember flying a Diamond DA-20 for the first time with an instructor and ending up high due to the great glide ratio. When I threw in a slip, the instructor complimented me.
Fast forward a few months and I'm flying with an instructor in New Zealand since I'd moved down here and needed to convert my US PPL to a NZ PPL. We were doing a simulated engine failure and I ended up too high (because I'm a wimp and I tend to stay to close to the field). I threw in a slip and the instructor freaked out and took control of the airplane away from me. I think she was genuinely afraid. She was an experienced flight instructor with about 2000 hours. I checked around and discovered that they don't teach forward slips in New Zealand.
When I asked her what I was supposed to do with a failed engine when I was too high, she said that I should lower the nose. When I pointed out that I would then arrive in a small field with way too much speed and just float into the trees, S-turns were suggested. Anything but a slip!
She even brought up the dreaded "oscillations of doom" in "many" aircraft (referring to the benign oscillations in some models of 172). It seems from my enquiries that this isn't one instructor, but the prevailing attitude here. I think that really reduces a pilot's chances of a successful forced landing if you're never taught a forward slip.
Chris