Slayer dart is a bit underappreciated and I would brand it as an excellent magic attack for players with lower magic.
It costs very little (1 death, 4 minds) and can hit a maximum of 18 damage and since you can use it since level 50 mage, you get better accuracy at higher levels. I like it much better than fire blast because you don't have to use as many runes and that doesn't hog up your inventory. In addition, the slayer staff gives a +15 (i believe) magic attack bonus instead of just +10 from the other staffs.
The only downside to Slayer Dart is the base exp which is 30 (not bad if you hit 18s but not really good either).
Slayer dart is best used for barrows if you want to recycle runes and are medium magic level (60+). It is also good for killing Black Demons as mentioned before but I've never tried it. It's also useful for killing metal dragons but don't try it unless you have really high magic (i spent 500 deaths to kill just 10 iron drags

... a waste of death but a pretty good experiment).