Definitely depends on the knife. On a larger knife or a knife designed with a useful choil, it gives you much better control when using the tip of the blade. Also a choil on a folding knife becomes an extra security feature, since it will be harder for the blade to snap shut if the lock fails.
It can also be a compromise between blade length and handle length, effectively cutting a few inches off the overall length of your knife. The part of the blade with the choil will still reach into a soft medium, and when you need to use the knife for other things, you get more handle space. Something with the standard mudder handle is a good example of this, because the handle is smaller than it would have had to be if the choil wasn't there.
So I would say it depends on what the knife is going to be used for, how big it is and how it is designed.
Good points. Some things I never really thought of because they just didn't really effect me. I can see why someone would like a bigger handle on a folder.
I am reminded of the Spyderco Native. I love Spydercos in general but I think the Native is one of the worst designed knives they make. Other people absolutely LOVE the Native and think it is one of the best knives Spyderco makes.
I think for people who prefer a larger handle to blade ratio or people worried about the lock failing the choil on a folder is a good thing. Also, some people use their knife for finer work or have learned to grip it in a way that a choil helps them.
For me, when doing fine work, I don't grip it in a way that the choil helps anyway. I would NEVER use the choil when needing a solid grip for tough tasks so basically I have to grip behind the choil and lose both handle and cutting edge.
As knives are intensely personal items, I can see that making one work for all people is impossible. If it has a choil, people will want one that doesn't. If it is flat ground, some people will want hollow or saber. If it is coated, some people will want uncoated. If it has a mudder or Res-c grip, some will want a micarta grip. And on it goes. When you factor in all the variables and combos, it will be rare that a knife doesn't have at least a couple of features that you won't like.
It seems like most of us can agree that a short bladed fixed blade does not need a choil. That is fine, I don't mind a choil on a 6"+ blade but on my 4" blade, I feel like I am getting screwed somehow.