As an avid cyclist, I would tell you an emphatic "It depends". What type of biking – cruising, road racing, mountain biking, etc, and the size and sex of the person. As a woman, I recommend the Terry line of bike seats. I have one on each of my three bikes.
Seats are relatively inexpensive. Go to a local bike shop, and try a few before you buy.
There has been a fair amount of study on penile dysfunction from bike seats and some research into anatomically-designed seats to help these problems. Interestingly the dysfunction is often a problem for casual riders or police for example who might spend many hours riding slowly. These riders tend to place more of their weight on the seat and less on the pedals and bars.
The Specialized bike company has sponsored some studies and designed some saddles for the sporting crowd, and other designs are avaiable for more of the "working" bikers. Some of the common changes include a cut out section in the center, and some others with a shorter nose, and even others with two short sit pads. This link offers a good introduction the bike saddles. http://www.jimlangley.net/crank/bicycleseats.html