Open-ended text generation has become a prominent task in natural language processing due to the rise of powerful (large) language models. However, evaluating the quality of these models and the employed decoding strategies remains challenging because of trade-offs among widely used metrics such as coherence, diversity, and perplexity. Decoding methods often excel in some metrics while underperforming in others, complicating the establishment of a clear ranking. In this paper, we present novel ranking strategies within this multicriteria framework. Specifically, we employ benchmarking approaches based on partial orderings and present a new summary metric designed to balance existing automatic indicators, providing a more holistic evaluation of text generation quality. Furthermore, we discuss the alignment of these approaches with human judgments. Our experiments demonstrate that the proposed methods offer a robust way to compare decoding strategies, exhibit similarities with human preferences, and serve as valuable tools in guiding model selection for open-ended text generation tasks. Finally, we suggest future directions for improving evaluation methodologies in text generation. Our codebase, datasets, and models are publicly available.