Michael, it's the other way around (PSLOT number is low number, PID numbers are high)...
If you look at [tt]pstat -a[/tt] output, you can deduce that PID number is PSLOT number times a factor plus some offset.
On AIX53, I have PID=PSLOT*4096+offset
So I'm betting that this offset (I've seen it called generation count on some info I googled) is incremented at every reuse of the PSLOT number.
For every PSLOT number, it would theoretically take up to a maximum of 4096 generations for the same PID number to come up again. But it is probably half of 4096 (or less) as apparently PID numbers on AIX in this schema are always EVEN, the PID 1 for [tt]init[/tt] being the exception...
So you'd be pretty safe in assuming the same PID won't come up again in the same 24hr period, unless you have a server that has massive amounts of short running (sub-second) processes... And probably the kernel programmers accounted for this and would probably block the re-use that PSLOT number for the remainder of that 24hr period or distribute the rapid restarting processes evenly among all free PSLOT numbers to avoid that scenario.
Anyway, this is just google-and-guess-work so maybe I will want to find out for real on the AIX Kernel Internals class some day soon... ;-)
HTH,
p5wizard