I don't know when this quote below was dated, which is to say that he may have modified or changed his mind since then, but Holt had some interesting things to say about the bench press.
"Bench press is an extremely useful exercise for grapplers. Neglecting chest, shoulders, and triceps as far as grappling strength goes is beyond stupid. Bench press is the easiest, fastest, and most efficient lift to stress all of your phasic and tonic motor units/motor pools.
If you look at things such as framing, guard retention, posting, active posting, arm positioning in guard breaks, flattening out an opponent, posture, all of these things heavily rely on push based dynamic movements and isometric holds/positioning. The most time efficient way to build this is by pressing, and the most time efficient press lift is the bench press."
Personally I've found that I am prone to injury in my upper limbs, particularly my elbows and shoulders. As a result, I add in bicep curls, lateral raises, DB presses, etc, in addition to my general workout. I feel it's made a worthwhile difference in their ability to take punishment.
Holt has a few insightful S&C posts if you are willing to look through his history. Granted I don't know how much of it will apply to non-elite athletes. He is both college educated in matters regarding health/athletic performance and really strong himself so it's interesting to hear from people who have hit the books and the weights.