I have something called a roller turbo. It was made by a bloke in a shed in St Ives (the Cambridge version) I think. It is nice and quiet and stable as the front wheel comes off to attach the bike.
Before I fitted the upgrade (Sprintlock?) gizmo, I had a similar experience to Bulls. The wheel slipped off the roller and went from around 25mph to naff all in hardly any time. The only time I have been over the handle bars whilst indoors! It also melted a groove in the carpet right down to the floor boards. Oh, how popular I was that day!
Since the upgrade though it has been fine. I'm not sure if the company/bloke is still going.
The best way to use it is the interval training thing I think. I have a track bike with a computer with the sensor on the back wheel. It also has cadence fitted which is very useful. A HRM is essential to get the best from what is still a very boring time.
Do use plenty of towels to protect the frame and surrounding environs from sweat and take the effort to find a turbo specific rear tyre. I destroyed a conventional tyre with the tread part coming away from the boby of the tyre.