Here is a pic, installed.
Basically, a 2 piece or floating rotor consists of the hat, and the disk. The hat is aluminium, and is mounted onto the disk by 10 bolts. The aluminium acts as a better heat sink, and it makes the rotor much lighter than the normal rotor. 5lbs lighter each, this is sprung weight of course which is a big bonus. Where the hat mounts to the disk is where the play is, this is to allow for expansion of the disk, because the disk primary function is to take the moving energy of the car and convert it into kinetic energy. And what happens Ladies (as Moppie so elegantly stated in his previous post) when this action takes place, that right it creates heat. Floating rotors will less likely warp, because of the way they are engineered.
I will say this, it did help in dropping the stopping distance dramatically going to the floating disks, not sure if its because of the slots or the increase ability of the rotor to dissipate heat, but you can tell a difference. I would be willing to bet its the heat dissipation ability. With holes in a rotor, the rotor will heat up faster, because of the loss of mass. Yes, it does have a little better ability to dissipate heat, but there will be a point depending on its load, were the x-drilled rotor will fail.
If you guys do look for some, the float, or play should not be more than .2mm. Since I am in England they use the metric system, if you convert that to our standard system, I believe it would be close to same distance that Robert Horry's game winning shot was off in game 5
I am willing to learn