While I can't completely agree with all of Seth Godin's points in his "Really Bad PowerPoint" post, I think he definitely makes some great points. You need to pass out detailed handouts after you present, which means you don't have to cram everything you want to say into every slide. Tell a story and use visuals to back it up. However I don't think bullets are evil and I've seen "minimalist" slides that simply don't work.
I like the concept of giving folks a visual and then letting them wonder what the heck it has to do with what your talking about, but you can't do that on every slide. Bullets help people who may have zoned out momentarily and unless you're the most compelling speaker in the world, zoning will happen.
However, I know a lot of consultants that could learn from Seth's guidelines.
Seth's Blog: Really Bad Powerpoint