I think in general, you'll get a better sounding chord if you get the root note on the lowest string. That simple "C" is technically correct, but ...well, does it sound good to you? There was another example in GF1 where playing the G note on the open C chord (on the low E string) was also technically correct, but didn't sound so good.
I think we might be talking about triads. Here's a link on triads
http://www.guitartricks.com/tutorial.php?input=389
...so ever since then, I always hang on to the buckle.