Manually building and installing packages from source is apparently so daunting a task for some Linux users that they have embraced the popular rpm and deb package formats. While it may be the case that an rpm install normally runs as smoothly and as fast as a software install in a certain other notorious operating system, some thought should certainly be given to the disadvantages of self-installing, prepackaged binaries.
First, be aware that software packages are normally released first as 'tarballs', and that prepackaged binaries follow days, weeks, even months later. So, if you wish to keep up with all the 'bleeding edge' software, you might not wish to wait for an rpm or deb to appear. Some less popular packages may never be rpm'ed.
Installing an rpm package is not necessarily a no-brainer. If there is a dependency conflict, an rpm install will fail. Likewise, should the rpm require a different version of libraries than the ones present on your system, the install may not work, even if you create symbolic links to the missing libraries from the ones in place. You must install rpm's and deb's as root, in order to have the necessary write permissions, and this opens a potentially serious security hole, as you may inadvertently clobber system binaries and libraries, or even install a Trojan horse that might wreak havoc upon your system.
It is important to obtain rpm and deb packages from a "trusted source". In any case, you should run a 'signature check' on the package, rpm --checksig packagename.rpm, before installing. Running an rpm --verify packagename.rpm is likewise highly recommended. For the truly paranoid (and, in this case there is much to be said for paranoia), there are the unrpm and rpmunpack utilities available from the Sunsite utils/package directory for unpacking and checking the individual components of the packages.
The martian and alien programs allow conversion between the rpm, deb, and tar.gz package format. This makes these packages accessible to all Linux distributions.
In their most simple form, the commands rpm -i packagename.rpm and dpkg --install packagename.deb automatically unpack and install the software. Exercise caution, though, since using these commands blindly may be dangerous to your system's health!
Note that the above warnings also apply, though to a lesser extent, to Slackware's pkgtool installation utility. All "automatic" software installations require caution.
Carefully read the man pages for the rpm and dpkg commands, and refer to the RPM HOWTO, TFUG's Quick Guide to Red Hat's Package Manager, and The Debian Package Management Tools for more detailed information.