Never tried it, but have also read about glycerine solution methods...if you do give it a go, just remember that frost free cycles will kill the stock. (the articles you find should mention that, but I've seen a couple that don't)
If you're looking at long term storage viability, without a lot of space, the other option that you have is propogating slants. Zwickel had a lot of good info in a rather long thread about this, and there are some good articles on it as well. Slanting has the additional benefit of being able to reproduce the strain without the genetic mutations that you get from repeated use, like you have with slurry...so in theory, you could slant and re slant the same yeast for years.