Yes that is a suitable equation for preparing working solutions. You probably can use serial dilutions but for GC and HPLC you are not usually calibrating over several orders of magnitude so it is less relevant.
I think C1V1=C2V2 comes to bare even in serial dilutions
But with serial dilution when your first standard is wrong or has an error perhaps the concentration is miscalculated it is going to run through the subsequent ones you are preparing