With steak we always seek that perfect balance of tenderness and flavor. There are, of course, a wide variety of cuts available -- most of which have their own charms and challenges. In no way am I disparaging Filet Mignon, Porterhouse, New York, etc. As I said, they all have their charms.
To my sensibilities, the two that come closest to representing the ideal balance are steaks cut at least an 1" thick from the 6 center bones of the rib primal (that's why it's called "prime rib" by the way, not because it's Prime meat, but because it's taken from the "prime" part of the rib) are the rib steak; and steaks cut either from the "top block," or the so called "chateaubriand" taken from the top sirloin primal and each cut at least 2" thick.
Much as I like tri-tip, on the minus it has to carved in a particular way to a narrow range of thickness to avoid stringy-toughness because it is a striated (grained) muscle -- somewhat like brisket.
FWIW, when the tri is "steaked," most butcher shops and restaurants call it "culotte steak," and make a big deal out of their being "only two culottes per animal." (If you look at an entire bottom sirloin you can see how the tips separate into little "legs" which is why it's called "culotte.") I believe the culotte term is common practice in our Neighbor to the North -- but am not completely sure, eh? Anyway, steaking allows a butcher to charge a pretty penny for the culotte, which to some measure compensates for a) the loss of the narrow end which must be thrown into the stewing or grinding piles; and b) the unfamiliarity of the butcher and her customers with appropriate methods for displaying, cooking and serving the tri-tip. Butchers who buy by the case instead of the whole or side don't get stuck with weird pieces which are more profitably shipped to California anyway.
Speaking of California, it seems as though the great ride we had with tri-tip is just about over. Prices have increased sharply. Due partly to the general increase in meat prices, sure. But mostly to the fact that tri-tip has become salable continent wide.
It bears repeating that top sirloin and tri-tip are very similar on the plate once carved. Tri edges in taste, top scores in texture, with top the slight overall winner. I buy and serve strictly by price, i.e., whichever's on sale. Just make sure you ask your butcher to cut the top at least 2" thick. It might take some persuading, as most butchers aren't used to it.
Rich