At the risk of repeating myself, and the obvious: (From the 5th post of this thread)
"So to sum up, IMHO, the reason it is somewhat favoured for fast Alphas, is that these Gybes tend to be done at very high speed on flat water.The reason why the vast majority of Slalom racers use a Step Gybe is that they are usually in bouncy rough water and using large heavy rigs, somewhat overpowered. The emphasis is more towards 'Safe' than 'Fast', because it is very slow if you blow it."
The 'old school' statement is pure crap!
THIS ^ is the reason all the PWA slalom racers do the step gybe.
You should do them too if you are a PWA racer sailing in rough water, overpowered, with a heavy, powerful rig!
If you are not a PWA slalom racer, and sail on flattish water on gear that is suited to your size and purpose, don't just blindly follow what the super humans do, because what they are doing is not what you are trying to do (unless you are, of course

). Have an open mind and experiment to find out what works for you in your situation.
Also, the article linked by MrCranky (above) on lightweight sailors has a
lot of very useful and true analysis in it. If you are a lightweight (like me

), read it carefully.