The answer, as usual, is of course: "depends what I'm using it for".
Hollow grinds get bashed a lot, but anyone who has done some cutting with a well-done hollow grind knows how well they perform. They may not be the strongest grind, but given a tough steel or run-of-the-mill utility uses or whatever, you have all the strength you need in a uncompromising performance package. Unless of course you need to cut deep -- then the non-linear expansion of the bevels can hang you up.
With the flat grind, in general you're sacrificing some performance for some strength. *If* you need that extra strength, then great. Also, for deep cutting, the flat grind enters linearly and more smooth than the hollow grind.
So it really depends on what kind of cutting I'm doing, and whether or not the steel is tough enough to hold up to my uses.
And, just as a thought game: The Spyderco endura is hollow ground. At $45, it blows away many of my multi-hundred-dollar flat-ground (sabre grinds) folders in many performance tests. Yes, I can think of tests where I can probably make that thin hollow edge crumble, but not too many of 'em are realistic for *my* uses of a pocket knife.
For folders, I still tend to lean towards full flat grinds, but I definitely do not shy away from PROPERLY-DONE hollow grinds. It's flat sabre grinds that I've really developed some suspicion about.
Joe
jat@cup.hp.com