It's so much more than that, imo. The fight has to be a physical battle as that fits the story of Bruce now having the inner strength, reserve and will to win - something he had lost at the start. Using gadgets or other methods to beat Bane would have seemed a cop out considering Bruce's story up until that point.
In the end punching defeated the puncher. Punch punch punch.
The verocity behind the fight was really intense if you were invested in the character up until that point, I think. I was on the edge of my seat.
Bane had also shown that no matter what trick Batman used, he would be one step ahead - (also, using Wayne's own armory to take control of the city was a nice touch. )
To boil it down to one bloke punching another in the face misses the point entirely, imo. Still, this might be due to the fact that the film didn't pull you in as it did me. I didn't watch the film from a critical distance, as it were, I was in the zone/atmosphere that Nolan created and saw it the way I expect he wanted it to be seen.