thanks a lot guys, the difference between quats and eulers makes sense to me now.
so far with my blender animations, i've been using the graph editor a lot for animating objects like cameras, mesh shape keys or material properties, as their relatively simple key frames can be easily read in the graph editor. the quats i didn't understand at all, but i've just looked up on wikipedia and they also mentioned 4 rotational axis (which apparently quats use) prevent gimbal lock and as nemyax listed, produce smoother rotations.
i'm new to rigging and animating armatures, so i think i'll use quats when keyframing bones in the dopesheet and action editor, and eulers if i intend to tweak the curves in the graph editor.