The Metasploit Framework is a development platform for creating security tools
and exploits. The framework is used by network  security professionals to
perform penetration tests, system administrators to verify patch
installations, product vendors to perform regression testing, and security
researchers world-wide. The framework is written in the Ruby programming
language and includes components written in C and assembler.

This is just a repackaged version of the installer you get from the Metasploit
download page. This is an all-in-one installer with Metasploit own versions of
Ruby, Java and PostgreSQL.

Take a look at README.SLACKWARE for important build requirements and upgrading
suggestions.