This paper suggests five new contributions with respect to the state-of-the-art. First, the optimal tuning of cost-effective fuzzy controllers represented by Takagi-Sugeno-Kang proportional-integral fuzzy controllers (TSK PI-FCs) is carried out using a fresh metaheuristic algorithm, namely the Slime Mould Algorithm (SMA), and a fuzzy controller tuning approach is offered. Second, a relatively easily understandable formulation of SMA is offered. Third, a real-world application of SMA is given, focusing on the optimal tuning of TSK PI-FCs for nonlinear servo systems in terms of optimization problems that target the minimization of discrete-time cost functions defined as the sum of time multiplied by squared control error. Fourth, using the concept of improving the performance of metaheuristic algorithms with information feedback models, proposed by Wang and Tan, Improving metaheuristic algorithms with information feedback models, IEEE Trans. Cybern. 49 (2019), 542-555, Gu and Wang, Improving NSGA-III algorithms with information feedback models for large-scale many-objective optimization, Fut. Gen. Comput. Syst. 107 (2020), 49-69, and Zhang et al., Enhancing MOEA/D with information feedback models for large-scale many-objective optimization, Inf. Sci. 522 (2020), 1-16, new metaheuristic algorithms are introduced in terms of inserting the model F1 in SMA and other representative algorithms, namely Gravitational Search Algorithm (GSA), Charged System Search (CSS), Grey Wolf Optimizer (GWO) and Whale Optimization Algorithm (WOA). Fifth, the real-time validation of the cost-effective fuzzy controllers and their tuning approach is performed in the framework of angular position control of laboratory servo system. The comparison with other metaheuristic algorithms that solve the same optimization problem for optimal parameter tuning of cost-effective fuzzy controllers suggestively highlights the superiority of SMA. Experimental results are included.