I'm fully aware that everything from Aerodactyl to Tauros uses Fire Blast to try and get around Skarmory, but in Loetke's defence, Fire Blast is not mentioned at all in the D/P Machamp analysis.
 
As a regular Machamp user myself, I find that the first switch is usually to Dusknoir/other ghost or Slowbro, so I like to use Payback. In my mind, those are the two best counters to 'Champ. I have had very few problems with the likes of Skarm, Forry, Bronzong etc as they take massive amounts of damage from Dynamic Punch and the confusion costs them their ability to stall. I've saw the above three threats 2HKO'd by DynamicPunch too. Those three could also be fucked up by Encore in a rather comedic fashion.
 
It could lead to some interesting mindgames though, with Skarmory attempting to Roost off FB whilst you lose health due to the Life Orb, whilst Machamp attempts to DynamicPunch him on the right turn.
 
I'm not a big fan of Life Orb either tbh. When an opponent uses it against me, I usually find a way to stall them to death with prediction or at least weaken them to the point where they can be OHKO'd by a faster Pokemon. The only things that can really abuse it, imo, are fast, mixed sweepers and Machamp is certainly not one of them. For that reason, I'd use the goofy Expert Belt (Those four moves hit eleven types super effective so it's not too bad of a trade). Or Leftovers, of course.
 
Anyway, it can certainly come in useful, but is it really worth the moveslot? I guess that would depend on whether your team REALLY needs a fire attack. If it does, then you could do a lot worse than Machamp to be fair.