Looking at my copy of The Art of Computer Programming: Seminumerical Methods, 3E, Knuth gives the worst case as: 
O(GCD) ~= 4.785*log(N) + 0.6723

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where N is the smaller argument to Euclid's algorithm. The average is much better: 
Avg(GCD) ~= 0.1775*N

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 Update: hv pointed out that the approximation for the mean didn't look right. I went back to the source, and see that I pulled out an intermediate result (I have to read more closely in the future). So it's not the mean.

The mean is given as 

Avg(GCD) ~= 1.9405*log10(N)

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where N is the smaller argument to Euclid's algorithm, and ignoring a subtracted correction term based on the divisors of N.

-QM
--
Quantum Mechanics: The dreams stuff is made of

In reply to Re^4: Algorithm for cancelling common factors between two lists of multiplicands by QM
in thread Algorithm for cancelling common factors between two lists of multiplicands by BrowserUk

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