The Continental Gatorskin is one of my favorite things. At $50, there is no better combination of grip, low rolling resistance, and flat protection that I've been able to find. Sure, there are lighter tires out there. There are also tires that are more flat resistant. It's the Gatorskins ability to do everything slightly better than the average tire that sets it apart. I've put the Gatorskin through its paces over the years while commuting and longer weekend road rides, and it has performed flawlessly. Though I use to use the 700x25c size, I now prefer the 700x28c size for my steel road bike for it's ability to ride on terrain ranging from smooth tarmac to rock strewn fire roads. I've never once doubted the durability of the tread or sidewall. Continental Tires has developed a rubber compound that is less prone to small cuts and collecting small pieces of debris, and to top that off, they add a cut resistant fabric called, DuraSkin, that wraps around the tire, bead to bead.
ps. If you are looking for a tire that is like the Continental Gatorskin, but offers much better grip, lighter weight, and similar flat protection you should also try out the Continental Grand Prix 4-season or the Vittoria Open Pave CG. Both of these tires offer better performance but at a much higher cost.