Most knots have some interesting properties that may come in handy. The following are properties I value A LOT and are important for my bondage.

These properties are ordered by how much I value them, although that changes with the weather.

Doesn't Jam.
Fast to untie.
Has a convenient quick release variation.
Fast to tie.
Security.
Looks nice.
Can be conveniently hitched into.
Won't collapse.
Lies flat on a surface.
Can be easily adjusted after you've tied it.
Can operate as a binding knot.
Can conveniently envelop other rope, or things.
Is easy to remember.
Can be used for bending rope.

That's a lot properties! I'm sure others order those much differently, and I wonder if others appreciate properties which have not occured to me?

Note, those properties aren't meant to classify hitches. That is a completely different affair. I also try not to think in black and white terms. I don't ask, "is this knot secure?" I ask, "how secure is this knot."

Most knots have certain strengths and weaknesses. If you understand your knot then you know when and where it aptly applies. I generally am not looking for an "all around" knot these days. I'm looking for knots with uniquely useful applications.

Cheers.