Until I started hanging out at this site, I gave edge geometry and finish very little thought..... although I have been a hunter and knife fancier all my life.
To me, a good practical test for a hunting/butcher knife is how well it cuts thin membrane or connective tissue that is not pulled very tight. This is typically the semi-transparent stuff you find between muscles and many other places on a carcase.
For instance..... when I have a carcase hanging up and I am trying to gut it without making a mess, I can often have my 'off' hand occupied holding the guts while I'm trying to delicately cut away the tissue that connects the guts to the body. It can be frustrating when the tissue just rolls in front of the knife.
When I'm cutting up an animal I generally like to trim up the meat portions to make them tidier and remove the membrane from the kidneys etc. Once again, it is good to have a knife that will neatly slice into the membrane.
I'm inclined to think that a toothier edge is best for this work. I'm not a physicist, but if cutting ability is likened to pressure ..... and pressure is force over area ..... then to get the best cutting ability we need to have the most force applied over the least area. We can have a super thin blade honed to an extremely fine polished edge and that can cut nicely. But if you further reduce the area of the cutting edge by having the high points of a mini serrated or toothed edge, then (theoretically) all the force applied to the knife might be acting through just a few 'teeth' on the edge.... in other words there is a very high cutting pressure.
Furthermore I'm inclined to think that the edges of the teeth can grab the fibers you are wanting to cut in a sickle or 'kukri' type of action.
I'd be happy to live the rest of my life with a medium whetstone and a coarse steel as my only sharpening tools. Dang, I'd even settle for a fine, sharp file if my blades were soft enough. I understand the fascination about knife steel and edge configuration, but my interests lie more with the activities that use the knife rather than the knife itself. But I do have to say that when I've been unable to get out and use my knives, I find myself getting more interested in the knives themselves.
So do I think (factory) serrated blades are better than plain blades?..... hmmm.... maybe they are for slicing bread and tomatoes. I would always prefer to have a plain blade. But when I'm cutting up meat, or other foodstuffs, or things like rope... then I think it can be advantageous to have the very fine serrations or teeth that are created by a coarse steel or abrasive hone.