The reason I think it's an error, is that rather than using stripslashes, you shouldn't have used addslashes in the first place. magic_quotes_gpc is naive and will break things - therefore you should simply INSIST that it's turned off.
Indeed, generally speaking you should prefer to do as little transformations to your data as possible. It will introduce potential bugs.
That's why I prefer to use prepared queries everywhere, and forget about escaping strings for SQL (and especially forget about addslashes).
In fact, in my dev box I could have
disable_functions=addslashes,stripslashes
in php.ini and my apps would still work.
Although I sometimes run applications written by other people here - therefore I don't.
Mark