I've always had a soft spot for bayonets (mostly around the torso area), and having spent time in the infantry I've always bought into the "spirit of the bayonet" as a properly indoctrinated grunt. Though more than a decade removed from being in any kind of situation that would compel the debate personally, it's still a perennial topic as indicated on various Army forums. Despite the fact that Fort Benning closed down their bayonet assault course some years ago, most armories still have stacks of M9s and even some M7s tucked away in their vaults.
I'm of the opinion that if you're issued a weapon with a bayonet lug, why not carry one? Let's say the weight of the rest of your crap isn't a factor and you're either issued one or allowed to buy your own. Yea or nay? Do you like the idea of a field knife style like the M9 (whether or not it actually does that is debatable), or a dedicated stabby knife like the M7?
The other factor is whether or not to keep it sharp. I fall firmly in the sharp camp and it doesn't make sense to me why you'd want to keep it dull. Reasons I've heard include "it will rust faster" and "it'll be harder to pull it out of the enemy." Bunk? I own an M7 and put a razor-sharp, cleave-a-piece-of-paper edge on it rather easily. In fact it's one of the sharpest knives I own. On the other hand I also own a 6H4 and it seems obvious to me that it was never intended to have cutting edge by any stretch of the imagination.