Circular ports in general will have less reistance for the same port area because the cylinder will have the least surface area for a given port volume. The less surface area of port, the less frictional losses in the port. Circular ports that are flared at both ends will perform the best, giving you the least port loss for a given amount of port area.
The advantage of a slot port is that it is often more versatile and can be built into a structural component of the enclosure to increase strength. The disadvantage is greater port losses (ie. greater port area required), they take up more volume than tube ports, and it is harder to adjust tuning.