Toothy vs Polished Edge

[Ankerson]

I had learned, and intuitively it makes sense to me that a polished edge would have better edge retention than a toothy edge.   Fairly recently I was wandering around the ‘Net and saw some stuff saying that due to the way a toothy edge wears, that a toothy edge could have better edge retention than a polished edge. 
 
At this point I have no idea where I saw that info, but it ran contrary to my understanding.  I have always thought that a toothy edge was less stable because the peaks of the “teeth” were not well laterally supported.
 
What’s the real story?

For knife blades in general toothy will give better edge retention overall. For other tools such as wood working tools I really don't know for sure, likely something balanced in the mid range.