I followed Louie Simmon's approach for a good number of years and I think it has its' merits. A few years back I bought the Metal Militia Bench Press Seminar video and I believe it was Sebastian Burns talking about how when you press back towards the rack, it's almost like sliding the weight up a ramp rather than trying to lift it straight up. He said if you go straight up and start to miss, you have nowhere to go...but if you throw it back, you can keep inching it back little by little.
I've seen it first hand where guys start to miss and you give them a cue to throw it back and they are able to flare the elbows and slide the weight \ instead of |.
I suck at benching but I think I'd recommend you first learn to push in a straight line and once you have that figured out (shortest bar path), then worry about following that other path. Throwing the weight back towards the uprights is a little riskier (IMO), you have to be able to keep your elbows under the bar. It's most beneficial in a bench shirt (IMO).