I just put a few games of Galio in, and my impression is that he is not a Tier 1 pick. I will say, though, that he's a potent node defender. In a 25 minute game, a Singed could not push me off of my node at any point of the match. Following that, I faced a Heimer on bot who likewise could not unglue me...couldn't even neutralize the node. On the flipside of that, no matter how much pushing power I developed, I did not have champ killing power to go with it. As a result, bot was deadlocked, period. That's a victory I suppose...but there are other champs who can kill an enemy and take their bot node.
Going bot, I would start with Catalyst, then rush Mercs and Chalice asap. Following that, I would grab a Glacial Shroud, finish Odin's Veil, then do Rabadon's. If the enemy has a lot of AD, I would finish Frozen Heart. For the last slot I'd go with Abyssal Scepter, as it is one of the single biggest boosts of Galio's damage(AP + MRes). Spirit Visage should also be looked at, but I wouldn't build it due to time constraints.
TL;DR - Galio is uber good vs AP and can defend the poop out of bot node, but he can't kill the enemy bot so it'll just be a stalemate all game.