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I just read the interview with Gus, thanks for letting us know about that. To answer your qeustion well I acutally think in the interview Gus explained his style quite nicely and I think you already hit the nail on the head when you said "He gets lots of action when he holds cards". Due to his extreme aggressivness and loosness Gus will be called more then almost any other player out there. Gus is a true gambler and if you pay attention to his style he is in it for the big payoffs. He is very mathmatical in his play, however he also reads his opponents very well. The way Gus plays is dangerous not only to his competitors but people watching who want to play like him. It takes so much skill and practice and of course a big bank roll to play like him. Simply put I see Gus's style the same as how casino's carry the odds. At casino's you can win but if you play long enough you will eventully loose your money. Gus may lose because of his loose play but eventuall he gets what he lost and a whole lot more back.
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