I recently read an article online about cross drilled and slotted rotors warping faster then regular rotors because they cool down faster then a normal rotor causing it to warp. Anyone know of any truth behind this? If not, which rotor out performs the other if at all and what brands might you recommend?

Drilled rotors are not a good idea...they tend to crack around the holes.
If you want holes in your rotors have them cast that way...but then thats a little extra $$$$$$

as far as slotted warping faster....again you get what you pay for...I think Cheaper rotors would but if you pay enough for a good set they will last you awhile

The quote below is from Tom Wilson's Technical Correspondence column in the March 2003 issue of Road & Track magazine.

" Assuming minimal attention to where the holes are drilled, there is no meaningful difference between cast-in and drilled-in holes in rotors. ... The real difference is between drilled and non-drilled rotors. All those holes detract from a rotor's mass, and high mass content is a main ingredient in avoiding warping. As for cracking, all rotors will crack if overheated, and there is little difference between drilled and non-drilled rotors in that regard.
Cosmetics is why most rotors are drilled nowadays -- the old gassing problem that holes are supposed to address is negligible with good pads and all but absurdly flamboyant street driving -- so, many aftermarket brake tuners offer rotors with or without drilling to suit demand."

Taken from stealth316.com