I have been using Palatino for a while now. I like it much better than the sterile Times New Roman. Now I am a bit tired of this font, so I am writing one of my chapters in Baskerville. A good font has to have serifs, unless we are talking about Chicago, maybe, and that only for a very specific kind of writing. It cannot be ornate or distracting, but must be actively pleasurable to look at. In other words, transparent, ma non troppo. Baskerville has a considerable contrast between the thick and thin lines.
I know other people feel you should just use TNR because it is the default and you only want to call attention to yourself through the writing itself, not the type face. I understand that perspective. But that font, for me, just does not sing. Of course, a very fancy or oddball font would cause a horrible impression for a scholarly article.