another point to add...keep an arch in the small of your back. once you get down to a point where you can't go any further w/o rounding your back, its time to start reversing direction.
try learning the romanian deadlift variant, really helps you nail the bend at the knees, slight arch in the back, hinging at the waist movement...as well as reaping the same benefits as the SLDL
For the sake of post a contrary position, I'm going to state that I keep my legs totally straight. Before you send the heat my way, I want to point out that exrx.net agrees with my take on this. Technically the varient I do is called a:
Actually, I de-load the bar after every rep a la Pendlay. You have to bring the bar a bit further out to do this, helping to keep your back totally straight.
I agree that if you want to load up the weight, RDL are the better exercise. This is one of my relatively stronger efforts, though, so often as not I enjoy the total stretch and better flexability provided by stifflegs. It's just a fun change of pace.