There are a lot of great reasons to develop grip strength. As your grip strength improves, your upper body strength will follow. Using a larger diameter bar or dumbell for exercises will help keep your elbows and shoulders healthy. It forces irradiation, by making you squeeze everything to lift the weight.
Perhaps an even more important reason, it has been shown that guys with stronger grip have less chance of disability as they grow older. Here is the link to the study from Pubmed.
I've put them on barbells, my old school globe dumbells, chin up bar in the squat rack, I've even put them around jump stretch bands to do some cool stuff with them. These things work great. I highly recommend them.