So, here is the deal:
Most courses are developed with tools that are not PowerPoint. For example, Captivate, Flash, ToolBook, Storyline, etc. All of which I have used and been asked to "send the PowerPoint."
Some development tools use PowerPoint as an initial interface, but it is in combination with eLearning development applications. An example I have is Articulate Studio. This can be difficulty to explain to the SME that is eager to get hold of your elusive "slides." This is especially true when they have seen you working in PowerPoint when story boarding or other early stages of development.
So, the moral of the story is let your SMEs know up front about the development tools you will use and what deliverables can and will be provided.
Feel free to add your comments and opinions. I'd love to hear if you have had similar experiences and how you've addressed it. Thanks.