Tboneman,
All revvvvvved up and no place to go! You're seat of the pants dyno senses the rpm's don't match the push on your tush,... ... ... so to speak..... since you've been driving a stick for years (my truck is auto, but like you mucho years with stick) that's how I describe it to make sense to you. If it's slipping moderatley bad, you'll smell it. If it's toast you can just sit there and NO GO.
Eric