BetterTouchTool is way more versatile and has tons of functionality. BetterTouch is to vim as Middleclick is to Notepad, or perhaps cat.
Meh, the only thing I need is three finger tap to emulate middle click, better touch tool seems like an overkill for that sole purpose.
I started using it for only one touch gesture to start with, too, until I realized I could control almost any navigation with swipes and taps. Swipe left and right to switch browser tabs, make a circle "refresh" motion to refresh the page, 3-finger swipe down to close a tab...