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There was nothing wrong with the fliplock clasp, it just didn't appear to suit such an expensive watch. Experience has shown, however, the fliplock to have perhaps a perfect strength-to-weight ratio. In contrast, the glidelock is heavier and feels more substantial, but I'd argue that the more complicated clasp is more prone to failure. For that reason, I don't think the glidelock is functionally superior to the fliplock, but it certainly is extremely well made, and now no other manufacturer can say they have a better feeling bracelet (whereas that was a pretty easy argument before).
Like others said, it will really come down to long-term performance to see which is better. In my personal experience, the first person I knew with a GMTIIc lost the flip tab on his clasp--apparently a bad weld--whereas I've never had a friend's fliplock fail.
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