KJung, thanks for your input. Just a couple of follow ups and observations.
1. You indicate that there is no need to eq or adjust volume when going from fingerstyle to slap but subsequently indicate that you need plenty of headroom to push the sound out to audience. The implication (to me anyway) is that more power is needed for slap than fingerstyle.
2. While I agree that Larry probably has (or had) more midrange in his tone (back during Sly Stone era) to my ears Marcus Miller practically invented the smiley face eq.
3. I'm still curious as to what it is that Larry does that makes his slap more defined and articulate than the rest.
I consider 'headroom' and EQ totally different things. I never touch a knob on the bass or the amp. However, if the amp doesn't have enough reserve power for that transient, things can quickly get ugly. This is not an 'EQ' issue IMO and IME.
For example, my LMII or F1 or Thunderfunk550 head running at 8ohms through a nice 210 sounds very good played fingerstyle, and sounds very similar to my LMII running at 4ohms through my similarly voiced 410 (although obviously not as loud and full). However, when slapping, the huge transient caused by that percussive 'hit' on the E or A string causes the 210 to 'compress' and the amp running at lower power to also compress due to lack of available 'peak' power, even at moderate volumes (hence, the 'thinness' you describe in the low end in some live slap tones IMO). Through the 410 at 500 watts... no problem.. full, clear, wide and deep.
And, if you really listen to Marcus' tone, he has LOT's of mids in his sound. Yes, he has massive deep bass and lot's of sizzle, but you can hear the 'note center' of every note he's playing due to him not 'scooping the tone'. It's interesting to note that when you see Marcus live, he typically has the midrange boosted on his EBS rig (he's moved to different amplification now, but that's what he was using last time I saw him). Of course, the EBS rig he uses has an inherent 'scoop' to the tone anyway when set flat (to my ear), but Marcus and others who have IMO a great slap tone, punch a lot of 300-600hz in their tone. (Edit: I do agree with you that Marcus 'launched a thousand bad scooped slap tones' due to players focusing too much on the lows and highs of Marcus' tone, and also trying to propel a 'too scooped tone' through a mix without enough cone area or power behind them.... again, a really bad combination of things).
Regarding Larry's slap tone... it's great.. I don't hear it as 'more defined or articulate' myself... just a touch darker than some others due to a lack of upper treble extension in his tone choice.
IMO... fun discussion, and an interesting topic for me, since as you correctly point out, pushing a good, authoritative slap tone with good low end, nice mid articulation and sizzle you can hear in the audience is the hardest job for a moderate sized backline rig IMO and painfully IME!