Along with a microSD card, that's all you'll need, yes. The advantages of slot-2 devices are:
1. GBA functionality
2. extra RAM for usage with certain homebrew apps like DSLinux and SnezziDS
You can get both GBA compatibility and extra RAM with the "EZ-V 3-in-1 expansion pack" which fits in DS Lites only and works alongside a slot-1 device. You use software on the DS itself to write files from your microSD card to the expansion pack. It's a fairly cheap solution if you want the best of both worlds.
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