MS Power Point
The difference between Slide Design and Auto Content Wizard is

AutoContent Wizard is just the wizard version of Slide Design
Both are same
Slide Design does not provide sample content but Auto Content Wizard provides sample content too!
Slide Design asks your choice in steps but Auto Content Wizard does not let you make choices

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MS Power Point
What's the best way to design the layout for your slides?

None of above
Create layouts for slides, handouts and notes using the Master Layout dialog box in slide master view
For each new slide, select a layout from the Slide Layout task pane
Apply templates from the Slide Design task pane

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