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To me knives serve to functions: jujitsu repellant and cutting bagels in half.
I'd choose a knife with a blade shape that is actually functional (no tantos or hawkbills for me, thank you). Most of the time you will be using your knife for something other than slicing up derranged crack heads.
I find plain edge blades much more useful and easier to sharpen. In a defensive knife course, I was actually surprised that a sharp plain edge will cut deeper than serrated blades.
Folding knives with pocket clips available to each hand and that can be easily opened with one hand are my preference. Fixed blades are much faster on the draw and better weapons, but it's not practical to whip out a fixed blade everytime I want to cut something. It's a compromise between portability/utility and effectiveness.
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