A search of any of the general forum archives will reveal a lot of threads discussing this issue. But I'll give you my 2 cents now. I like plain edges. I think they look better, are more easily maintained, and can be sharpened in a more versatile manner.
A plain edge sharpened with a fairly rough stone will produce an edge that will perform much like a serrated knife. You can apply the type of edge you want to a knife with a plain edge, a smooth highly polished edge for push cutting, or a rougher, 'toothier' edge optimal for slicing.
Serrations are difficult to resharpen for most folks (you will need triangular shape stones like those on the Spyderco Sharpmaker). Fully serrated knives do have their place, but limit the versatility of the blade. Partially serrated blades are just plain awful, in my opinion, especially in smaller blades. You don't get enough plain Or serrated edge with these knives.
There is also a big difference between production companies in the shape and size of their serrations. Some work better than others. A dedicated rope cutting knife may benefit from full serrations (eg. the Spyderco Rescue). But if you know how to sharpen a knife well, a plain edge will be easier to maintain and will be more versatile. If not, a serrated blade may keep cutting longer, but will become nearly useless when dull.
I hope this helps. Do search for older threads on this issue. Most folks here seem to prefer plain edged knives, but there are some who like serrated knives, even partially serrated blades. In the end, it depends on how you will use and maintain the knife, and your personal preferences
Paracelsus
