Spirithorse - IMHO The slats are easier to make than turn-buttons - just a strip with 2 screws in it. There's no real reason to open the back once the portrait is in it unless you want to use the frame for something else, so then you remove the screws. I guess for a store-bought frame you expect to open/close it at least once (to put your photo in) so the turn buttons are easier, but this one may never be opened (unless they hate the portrait but like the frame!)
In addition - you can't see it in the photo, but on the top slat, the bottom edge is beveled up and in - like a French Cleat - so it will hang on a nail or screw head on the wall. You don't need to add a hanger.
This frame is also fairly thick and with a square bottom edge, so it sits upright on a shelf w/o needing a leg. So you can hang it or just sit it on a shelf.
Make sense?