I think you're half right there, but the whole slipstream thing is wrong. We want them to run closer becasue it is SO much easier to overtake when you are right behind a car for a whole lap, rather than ONE opportunity into ONE corner. Just because you a greater speed difference doesnt mean much on medium to short straights, but the most important thing is breaking. If you can run on the gearbox of a car for a whole lap, you have the braking point of every corner to overtake, but if you have to drop a second behind until the straight, the opportunities are going to be hugely decreased.
You will see this affect at low downforce tracks, especially Monza, where there is lots of overtaking because the cars can run closer. Then you look at Hungary, could Vettel overtake Alonso? No. Even though his car was almost a second quicker a lap. If he was able to run closer to him throughout the lap, I'm sure he would of put a passing move on him by running one up the inside. But that's just my opinion