A heavy bag can be a great asset to any martial artists training, traditional or modern or otherwise. Use wraps to protect your wrists and knuckles, and also train with heavy gloves which will increase your speed. Also, do practice without gloves or wraps, as its important to develop a strong wrist which can sustain the shock of the punch. When doing this, always start light and controlled, increasing strength and intensity slowly.
Have fun!
-Al