Here are a couple of links that facilitate thinking about this subject. The first one is an excerpt from Paul Haney's book on tires. It is a good book to read if you really want to get into the nitty-gritty of tire traction and all, but it is a bit light in some areas where he is weak on his own understanding of a few things as I recall (it's been 5-6 years since I've read it). If you get a copy, go to his web site and print off the errata sheets before you get too deep in studying some of the diagrams. Amazingly, this whole subject of tires is still a difficult and somewhat "not fully understood" field of engineering for the most part.
http://insideracingtechnology.com/tirebkexerpt2.htmAlso, here is a web forum discussion with some good (mixed with some useless) info and ways to visualize the stretching nature of the tire, etc; he asks the same basic question you did James I think:
http://www.pistonheads.com/gassing/topic.asp?h=0&t=576203&mid=0&nmt=tire+Slip+Ratio