Hi,
We don't have experience with LatexPowerPoint (or do you mean PowerPoint LaTeX). Either way, these tools are kinda cheating, since they are reliant on a separate LaTeX service (perhaps even CodeCogs) and as a result the fonts used poorly match those in the document. And as you note: for offline use you need Miktex.
I can't resist a plug here. We've just released a new version of Excel Render (http://www.codecogs.com/products/excel_render/about.php ) that operates entirely offline and doesn't need Miktex. We're planning a version for Word and Powerpoint along the same lines as PowerPoint LaTeX, only done right :)
In the mean time good luck with MikTex - a truly great package.
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