matt, why the serratus anterior?
What most people think about this is that doing bench press and triceps work will increase punching power, since a punch is "a bench press movement" the truth is though, its not at all that simular. If you punch correctly the power will come from the hips, you will rotate, thats where the power comes from. I agree working the whole body will help, specially working the hips, explosive snatches, stuff like that perhaps. But also, rotation work, since that is the movement you do when you punch. A typical "fighter" rotation move is to use a cable station, take a cable in your hand, hold your hand in your guard like you would, and preform a hook punch, now, dont really move the arm, just put it out there and let the hips rotate like they would in a punch. while in a real punch you will be moving the arm more than in this exercise, not moving the arm ensures that the core is getting the work instead of the arm.