You can just extract the missing library file(s) from the Slackware 11.0 package - like
http://slackware.osuosl.org/slackwar...0.3-i486-1.tgz if you need a link to an online package.
Also check the doinst.sh script which creates additional symlinks for the libraries. You may or may not need to create these symlinks yourself - first see if your legacy application will work again when you've extracted that library file.
As for the older gcc, I have a gcc 3.4 package for Slackware 12.0 that you can install alongside the default gcc4 of Slackware 12.0. Read my instructions in the SlackBuild script on how to use this gcc3. Some applications will automatically find the gcc3 and use it (for instance QEMU, the virtual machine program, will only compile on Slackware 12.0 using this gcc3 package and it's configure program will find the gcc3 without the need for any tweeks).
See
http://www.slackware.com/~alien/slackbuilds/gcc34/
Cheers, Eric