For myself, I find a plain edge seems to work fine for the majority of cutting jobs I do, even including cutting most types of cardboard; some serrated blades seem to become stuck or not push down as easy in certain cardboards. I have found some advantages to serrations, however, particularly when I had to cut some marine rope; my very sharp plain edge would initially slide off. It could accomplish it, only the serrations did it much faster, easier and even cleaner.
I think it also depends on the serration pattern. I dislike serrations that are too thin and pointy, as they tend to hang up and not cut right for me. My favorites are the Spyderco or Benchmade-type patterns. I find the BM types generally cut a bit smooter without hanging up, as they're a bit rounder, but the Spyderco style cuts marine-type rope best.
That said, since I very rarely find cause to cut rope, I still prefer a plain edge overall.
Jim