Personally, I would avoid anything with a serrated edge. Serrations don't cut, they tear. They're no better that a sharp knife, and they're a real pain to maintain when dulled. Remember Ginsu knives? They muscled through aluminum cans because their serrated edges tore right through the material. The problem was that their cheap, low quality steel caused rapid dulling or outright breaking of the "teeth," and once they were dull they were completely useless.
Personally, I think a nice slipjoint folder makes a great gift - especially for someone a little older and appreciative of the more traditional patterns. Don't get me wrong - I love modern tactical folders and I carry a $400 custom linerlock (RJ Martin Q40) on a daily basis. That said, I also have a few two blade saddlehorn trappers on order with Don Morrow (with buffalo horn scales and filework) that I think would make an excellent gift.
Here's an example of the type of pattern I was referring to, borrowed from Don Morrow's website:
There are some less expensive, but very nice factory knives out there too. Case and Remington are nice, and both have a lot of history and tradition.
Here's a real nice Remington bullet trapper on eBay that I'm sure your father would be thrilled with -
http://cgi.ebay.com/ws/eBayISAPI.dll...category=43335