I am a big fan of bodyweight conditioning especially in the beginning as it helps incorporate strength and balance to elicit a better muscular efficiency. That being said I think it should be incorporated with weights and unstable forces as well as good stretching. If you get into body conditioning but let flexibility and proper stretching take a back seat you are just waiting to hurt yourself as its not the same with traditional weights, you can't lower your body weight for less resistance

. There is though a great site that discusses alot that can be done with bodyweight here.