david weaver
You're exactly right. The best serrated knives are sharp at the point and have an edge on the whole serration. That part is difficult to restore. Otherwise, resetting the points is fairly easy if you can tolerate that they won't be quite as pointy. Just sharpen them like any other knife.

Unfortunately, most of the knives that are brought to me serrated are so cheap and so far gone that by the time I get to them (it's not uncommon for someone to bring me 20 knives at once, and the big ones, I will do entirely by hand because the result is better and in theory, more repeatable.), I just buff the crap out of them and avoid burning them. Works pretty well.

The strange serrated knives, to me, are the ones that are sort of like a negative of a bread knife. They have little rain drop shaped sharp bits sticking down - if that makes sense. You could pretty much take a bread knife with the same sized teeth and dovetail the edges together. They look terrible after the buffer, but they cut your fingers quickly if you question their sharpness too much.