Hate this philosophy. Basketball is a 48 minute game, not a 40 minute game then cross you fingers hope you keep the lead for the last 8 minutes.
Slowing the ball down loses your momentum and puts the other team in attack mode, gives them an edge real quickly. You always want to be the aggressor in attack mode, otherwise your offense becomes stale and you find the other team right back in the game. Like others have said, when we slow the ball down (not even just this year, years passed as well) we usually end up losing the game.