Predicting protein binding is a core problem of computational biophysics. That this objective can be partly achieved with some amount of success using docking algorithms based on rigid protein models is remarkable, although going further requires allowing for protein flexibility. However, accurately capturing the conformational changes upon binding remains an enduring challenge for docking algorithms. Here, we adapt our Upside folding model, where side chains are represented as multi-position beads, to explore how flexibility may impact predictions of protein–protein complexes. Specifically, the Upside model is used to investigate where backbone flexibility helps, which types of interactions are important, and what is the impact of coarse graining. These efforts also shed light on the relative challenges posed by folding and docking. After training the Upside energy function for docking, the model is competitive with the established all-atom methods. However, allowing for backbone flexibility during docking is generally detrimental, as the presence of comparatively minor (3–5 Å) deviations relative to the docked structure has a large negative effect on performance. While this issue appears to be inherent to current forcefield-guided flexible docking methods, systems involving the co-folding of flexible loops such as antibody–antigen complexes represent an interesting exception. In this case, binding is improved when backbone flexibility is allowed using the Upside model.