I've been prototyping out a new knife pattern for a while....it's a fully serrated blade. I've experimented with a number of things. The very first thing I learned was that the serrations need to be installed/created AFTER heat treating...if you "cut" the serrations prior to heat treating, you will loose about 75% of the blades to edge cracking during heat treat, due to the stress risers the serrations create. This limits the options....at first I tried a rotary tool with diamond burrs, but that lacked the control necessary for creating a consistent serration pattern. I finally had to go with diamond needle files, doing it all by hand.
Personally, I found that a pattern of two small, one large performs the best for cutting things like rope, and other fibrous materials. I found that a shallow cut, at a steeper angle will give the serrations better endurance. Also, after trying various combinations, it's evident that you have to find a "sweet spot" in terms of depth...while a shallow angle with a deep cut on the serrations gives a better cutting action, it also makes the "points" of the serrations somewhat fragile. A steeper angle doesn't cut as well, but the serrations will hold up much better. For me it took some time and effort (along with a few sacrificed blades) to determine that "sweet spot" of depth and angle.
Since I'm planing on making a number of these type knives, I broke down and purchased a diamond wheel for creating serrations from KnifeKits.com. It was expensive, but I've taken the attitude that if I have to produce more than 3 of something, I purchase the tools to make production easier and more efficient.