I think it is a bit of a tradeoff. While the serrated edge is a lot more aggressive on cutting fibrous materials, maintaining the edge on a composite blade is a bit more of a challenge.

One of the things I like about my Wave tool is that it has both a plain edge blade and a serrated blade. I reckon if I needed to rely more on a knife than I currently do, and only carried one blade with me, I would probably opt for a composite if I had to do a lot of textile cutting. If it is mostly opening boxes or carving up wood and such, then the plain edge would be more desirable.

One inch of the right kind of serration can do a lot of contiguous cutting. I find that the Cutco serrations really slice well, not at all like a sawing action, but more like when I am skinning game with a sharp plain edge and I am rolling the edge from base to point as I draw the slice. Kinda tough to describe.