I think we have to be careful not to fall into extremes here. Just because it's a point or two off for lifters doesn't mean it's useless altogether. You got guys walking around with 30-35 BMI and declaring "oh but it's useless for lifters". Well...
If we plug in 6 foot 2 inches and 235lbs, which incidentally was Schwarzennegger's competition bodyweight, then that puts him at 30. Now, sure that was competition weight BUT he was one of the most heavily muscled bodybuilders of our generation and juiced. So now you get a regular Joe Average lifter walking around at 30 BMI, saying "yeah it's crap. Arnie was 30 BMI you calling him fat? huh huh?". Well reality check please people.
They're fat and they know it. Now there's nothing wrong with being fat, if that makes you happy then crack on. But trying to pull the "it doesn't take into account my muscle mass" line, well it's just pure denial.