Plain blade is better all around, except on rope and other fibrous material. A good quality steel, properly heat-treated, with a plain edge is the knife for me; plus much easier to sharpen. I use many knives, and like any tool, having the right knife for the task at hand is key. I do have several serrated blades (all folders) that I use when working with rope. I prefer a full serrated blade to a partially serrated blade. Though I suppose that if I had to have only one, do everything knife and rope was a concern, a partially serrated would do. I find that a good plain edged blade, made of high quality steel like D2, will do it all.
Tip: If you want the benefits of a serrated blade on a plain edge, leave the edge a little coarse. The little teeth left behind will work like serrations. All or part of the blade, your choice.