now that i've returned to training after 8 months off i can definitely say that weights have absolutely nothing to do with power. i'm weak .... i realized how weak i was when i helped my buddy move a little while ago. i mean im not struggling with 20lbs or anything, but im definitely running at about 40-50% strength. i expected the same when i returned to the heavy bag a month and a half ago. surprisingly though my striking did not deteriorate anywhere near that level. i was probably striking about 70% from the get go and have been quickly improving. i'd say im creeping up on 85% of my old power. i always believed it to be true, but this proved to me how little strength had to do with power.
all this said i love lifting and can't wait to get back to it. it's not like you'll never be able to use strength in a fight.
off the top of my head my main power generation exercises would be 2 breathing sets, stance work, the heavy bag, pad work, drilling slowly with a partner, striking a brick wall very - fairly slow, slow sparing.
done in full (working back up to it now) the first breathing set involves sitting in horse for about 15 minutes while doing simple arm movements along with your breath. without break i go immediately into another which involves going down to thighs parallel, holding it, coming back up, back down etc. this helps me build root which a little guy like me needs to have any power at all. all the emphasis on slow training is to give your body the time needed to perfect everything for whatever type of power you are generating. gives you time to adjust and to feel what every inch needs to be doing when whipping, sinking, turning, spiraling, etc. it's honestly a toss up to me as to which is more valuble in my power training... bag work or slow training. the more i train the more i'm leaning towards slow training. ill always do both though.