There is no universally preferred format. Many job seekers spend days perfecting their resumes, agonizing over whether to use a chronological format or a functional one. This question may be akin to figuring how many angels will fit on the head of a pin. There is no one perfect resume to suit every employer's needs. But there is a perfect resume for a specific opportunity. If you are going to focus on perfection, do it on an individual, rather than a global basis.

Oh, you hate your job? Why didn't you say so? There's a support group for that. It's called EVERYBODY, and they meet at the bar.
Drew Carey

Tailor both the resume and cover letter. How many times have you heard people say they customize their cover letter, but send the same resume to everyone? Usually they are very proud of themselves for doing this, as many job seekers send one form letter and resume to everyone. Unfortunately, when a resume is competing with 200 to 400 others, it has to stand out from the crowd. Recruiters don't have time to separate the "diamonds from the dirt" in the 10 to 60 seconds they spend skimming for relevant experience. It is the candidate's responsibility to sort the valuable stuff from the extraneous, using only 20-carat material to land an interview.