To answer your questions:
- how can we be sure that the slope classes are correct ? - the slope classes will be based on GIS processing. You, as a modeller, have to make sure that your watershed and the land processes are represented satisfactory. I personally don't like the simplification and prefer to go for "all/full hru".
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do we have to find the slope of terrain in ArcGIS first or we can just simply input an approximate percentage for slope classes? - It is wise to perform an analysis of your study area :) See which LU, soil, slope classes dominate, which are very small and can be neglected, etc. You can always "simply input an approximate percentage for anything", but how you justify this decision for yourself and for others?
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does the slope class significantly affect the flow stream output in SWAT - it does, but "significance" is TBD. :) I'm not fully aware of how arcswat incorporates slope class information into the swat setup files, but most parameters with "slope" are usually sensitive for my studies (HRU_SLP (or SLSUBBSN), SLSOIL, USLE_P (which is based on slope), USLE_LS, etc.). Even if classes are used for only creating the HRUs, this will effect your final model: how many HRUs will you have, hence, the runtime of the model and the detailness.
Best,
Natalja