Smooth on Single Actions, checkered on Semi's, and some checkered WOOD on Smith's and Colts. I prefer smooth on rifle/shotguns, unless it's hand done, rather than the pitiful machine made.
This mirrors my viewpoint, especially with attractive wood. The checkering obscures the grain, and aesthetics take a hit. This is why I've replaced all my checkered targets with presentations.
Some say that checkered or checked is not good for concealment as the grips might snag on your clothes, but I think the advantage of a good grip with sweaty hands outweighs that possible concern.
Some folks think that checkered is not good for presentation grips as it obscures the grain.
On a rifle I like the looks of checkered, but I agree that hand work is a lot better looking than machine pressed.
Checkered Herretts Jordon Troopers (IIRC) on my 640-1:
I put smooth exotic wood Hogues on all my guns. The checkering will wear on your clothing if you carry concealed, but mostly I've found that when reloading in a hurry, such as during action pistol matches, if I don't get my grip quite right, the first shot will "settle" the gun into my hand.