IMO, it all depends on the steel type and the design/intended use of the blade. A full flat grind will give you a super fine edge, but it sometimes lacks in strength. My solution to this is to do a flat grind in order to reduce weight, and then utilize a convex edge for added strength. Ideally, plunge cuts should terminate between 2/3 of the blade's width from edge to spine, to terminating just short of the spine. Just make sure you do not break the spine with the plunge cuts.
I mentioned steel types....some steels, namely the higher alloy steels will not hold up well with a super fine cross section at the edge. These steels tend to be somewhat brittle in thinner cross sections. That's one of the reasons that you often see some of the stainless/high alloy steels with hollow grinds that exhibit short plunge cuts, with overly large edge bevels....simply put, it's a compensating measure because if the edge was thinner, it would be too brittle.
I might be getting too technical there....suffice to say that you want the thinnest finished edge on a blade that you can, and still ensure that there is enough "meat" at the edge to support hard use. Thinner edges equal less cutting resistance, making the knife easier to cut with. In reality it's a balancing act to achieve a thin edge, reducing cutting resistance, while at the same time leaving enough material to ensure adequate strength to hold up, without chipping.
I could go on and one, but I think you get the idea. Practice and experience are the best teachers....I know that might sound like a cop-out, but it's true.