I have always prefered serrated. I use my knife a lot at work. Hardly anyone else here carries one. It cuts cardboard, plastic packing straps, tape, cords, plastic wrap, tie wraps, and a miriad of other common warehouse items. The serrations come in handy all the time. I don't even consider carry a knife without them.
As for sharpening, yeah it's a pain but I on'y do it every 6 months or so. They stay pretty sharp on Kershaws.
On a decent sized partially serrated blade, I find that I don't even use the serrations except when the job specifically calls for it. I've never actually worn the serrations down on any of my knives... even the cheap ones that I carry and use every day.