Actually, the whole point of 'escaping' the quote is for database INSERTs. The database itself won't store the escaped version, but only the literal quote. Thus, when you receive the value from a SELECT, you don't need to do anything special.
In all my time working with PHP, the only need I've had for stripslashes() is when magic quotes are on--a mixed blessing--and data is passed between pages rather than being stored in the database. The perceptive phpbuilder will note that this site has exactly this problem when a posting is rejected due to missing name, etc, and people are constantly where the extra backslashes came from.