Classic case of "get the right tool for the job".
For woodcraft or hunting use, I'd prefer no serrations. There are too many operations where I want to use the base of the blade for control, and the serrations would be in the way. On the other hand, if I was working on a boat, I'd wanted a single-hand opening serrated blade, preferably with a marlin spike on the backside. Some boats even insist on a fixed serrated blade kept outside the clothing whenever on-deck.
Supposedly the reason all the original "survival knives" issued to pilots had serrations was for sawing through aluminum fuselage, and the type of serration seen on Vietnam-vintage pilot's knives sort of bears that out. Definitely not the knife I'd choose for other work, though.
The upside is that good knives don't have to be expensive. A $20-$30 Mora will do everything you need from a woodcraft or basic hiker's survival knife perspective.