In general, yes.. but you have to do fairly specific exercises to have it truly be useful. If you are doing a general body workout consisting of exercises such as bench and shoulder press, tricep and bicep exercises, abdominal, several different squat, leg extension and leg bicep exercises, overall you will gain some decent strength and some extra power, but also it will help protect your muscles, tendons and bones from further injury, especially if you are practicing wrestling, grappling or ground fighting.
We use weighs in gung-fu, but they are used in a very specific non traditional manner. When I was teaching my oldest brother that was a fairly serious natural body builder that would regularly bench press 280 several times a week and did this for over 10 years, along with squatting 350lb, a hundred push ups, etc.. he was always shocked at anytime we ended up grappling, I would either toss him around with relative ease or, when he would try to use brute strength to get out of various locks, he simply could not overpower his way out of it at all.
After getting real pissed one time that I was that much stronger and struggling for all he was worth, and getting exhausted after about 40 seconds he asked "how the hell are you so much stronger than me!!?" I simply told him "Ancient Chinese secrets" ha.
Point is that while he was working out with heavy weights all those years and even doing push up, I was using NO weights at all and simply doing specific gung-fu exercises and training for punching power, including internal power, and something called discipline techniques all of which involve no weights at all.
But for those that don't know these techniques, which almost no arts do, then using light weight training up to about 30lb weights can given you some good basic strength, certainly much more than someone that does no such training.
But if you are looking to increase something like punching power, then you have to do other exercises such as high reps of said punches with light weights. This is the basic method that Bruce Lee used to get killing striking power. He would practice 2000 punches per day each arm with light weights and 1000 kicks per day. When you are working with those numbers, you don't need to do any other exercises for strength and power as you will be far stronger than anyone else and have seriously damaging power in time.
In gung-fu, the most dangerous and most powerful Masters were always those that looked the frailest and were the skinniest or smallest, because real strength and power doesn't actually come from the muscles persae, but from the tendons and chi strength. Yes the muscles are involved to a degree, but only a minimum degree to be able to move of course, but it's the tendons at the end of the muscles, supported by chi, is what gives you true power, as well as greater strength too.
Hard chi-gung exercise such as those from the Hong-gar system, of which I have a couple of videos on Youtube about this, give some good exercises and techniques to develop some true power and strength, which the Hong system is famous for.
If you supplement these types of exercises with some light weight training, especially tendon strengthening which involves static holding exercises, will help you be stronger and more powerful than most other practitioners out there.