I have this massive SSP world, so I require loads of Powered rails to get around quickly. Also, when I'm in a rough situation whilst fighting mobs, I take out mah trusty 4 enchantment Gold sword, which does one shot KO for almost every mob
Oh yeah, gold blocks/ore looks good, as well
... Wrong. They can mine as much as an iron pickaxe, just not much durability. Carry lots. =3
lolno. Gold Tools have the worst type of mining capabilities (on par with Stone tools), with low durability. Gold pickaxes can't even mine gold ores. The special attribute they have is that they mine the quickest out of any tool, even Diamond tools. They also have the highest enchanting capabilities.
On Topic: I'm quite sure I already posted, but Gold is pretty useful in Powered Rails and Clocks, which I find pretty vital in traveling and mining. Tools/Armor is purely for show. If you have an overabundance (kudos to you), then I suppose you can use them to quickly make passages in mines/dirt.
Also, Gold blocks make a fantastic "Tower-of-Pimps".