I actually don't monitor the status myself, I monitor the status that each service publishes. That is, whatever they report on their status page, StatusGator aggregates.
The whole thing was born after I was racking my brain trying to debug a problem, then I remembered to check status.whatever.com and realized it wasn't my problem to debug and the provider was already aware of it. I thought it would be nice to get notifications as well as aggregate that info from all the different services I use.