Nadeem,
There is a pretty big difference between the two. An ArcGISDynamicMapService does not have defined LODs (scale ranges that the map has be cached at) and thus you can zoom the map to a scale of 1444444 or 1444456. This is why it does not have a zoom slider, it only has a zoomin and zoomout button. Each time the map is paned or zoomed a request is made to ArcGIS Server using the current extent of the view area of the map and ArcGIS Server produces image(s) that are returned to draw in the map.
An ArcGISTiledMapService has predefined LODs (zoom scale) where the map has pre-generated images (tiles) that are fetched base on the maps LOD and extent and thus fetching a tile (already produced image) is much quicker than ArcGIS Server has to produce the image on each request. You can not use a ArcGISTiledMapService unless you have already gone though the process of producing a tile cache. Though an ArcGISTiledMapService is much faster to draw it is limited to those defined LODs and it will not attempt to re-project those tiles to a different WKID, where the ArcGISDynamicMapService will re-project it's data based on the requested WKID.
There is really nothing I have covered here that you could not have learned for yourself by reading the documentation.
So the question is do you have a real need for the zoom slider or do you just think you need it? In 2 of my production site for my county I do not use cached maps at all as I have my 3 ArcGIS Servers optimized to produce maps using ArcGISDynamicMapServices and they return the map very fast, and I am not limited to the scales that the map can be zoomed to because of LODs.