Punctuated equilibrium (as I understand it) makes more sense to me since evolution should lead to an optimum, then enter an equilibrium, as no further improvement is possible. This equilibrium can be broken by diversification of the species (say a few ground dwelling rats enter the trees, so they need to change to survive) or through natural disaster.
What are you're thoughts on this debate? Which do you agree with, punk eek or gradualism? Some information on where this debate is in academic circles would be appreciated.