I have been hearing more and more sherddogers say that regular wrestling is better than bjj if the wrestler is aware of subs. I am not sure how true this is when we see a guy like Matt Hughes have so much trouble with BJJ guys. I think wrestling gets the dec. more than BJJ because it emphasizes top control so people automatically think its better.
BJJ is more applicable, but the quality of wrestling in many places (such as the U.S.) is higher. Your competition means a lot. If someone in Brazil wanted to go into MMA and decided to start training with the Brazilian high school wrestling team instead of going to a jiu-jitsu school he'd be crazy.