We seem to always hear from "survivors" of this maneuver that it's no big deal, from chicken-*****s who've never tried it that it will kill you, and from people who fly some other make/model where slipping with full flaps will probably kill you. I'm not aware of actual accidents attributed to slipping a C172 with full flaps, nor have I heard from people who have done this and experienced a near-death experience. Personally I've never even felt the oscillation while slipping 172M's with full 40* flaps or a 172P with full 30* flaps. In a C172, you just need to keep your airspeed up when you're in a slip and it will be just fine--take it from all the people who've done it and lived to tell the tale.
What's next? Stalling while in a coordinated turn is deadly? Leaning a single-engine is too dangerous because the engine could quit and fail to restart? Maybe emergency descents that split all four cylinders from the shock cooling, overload the wings because of the radical bank, and could make you pass out from excessive G forces. If you're buying all of the above then I have some $10,000 low-capacitance TOSLINK cables that will really improve the tone of your digital audio...