We discuss both the theoretical reasons for considering a non-circular format for the Large Deployable Reflector, and a potentially realizable concept for such a device. The optimum systems for diffraction limited telescopes with incoherent detection have either a single filled aperture, or two such aperatures as an interferometer to synthesize a larger aperture. For a single aperture of limited area, a reflector in the form of a slot can be used to give increased angular resolution. We show how a 20 x 8 meter telescope can be configured to fit the space shuttle bay, and deployed with relatively simple operations. We discuss the relationship between the sunshield design and the inclination of the orbit. We conclude by discussing the possible use of the LDP as a basic module to permit the construction of supergiant space telescopes and interferometers both for IR/submm studies and for the entire ultraviolet through mm wave spectral region.