I would recommend that people teach their dog the very basics - sit, stay, walk to heel, no - if they're going to have a happy relationship.
I once had a very insightful conversation with a canine behaviour lecturer and someone who had competed at a pretty high level in a number of the obedience type of competition. She was asking who felt 'loose lead walking' was important, cue lots of people raising their hands. She did not raise her hand.
Why not, she explained... she lived on a large open farm and so her dogs very rarely needed to walk outside her own land. She was confident enough she COULD teach it if it was ever needed but had not bothered because she never needed it.
Her point being, you teach what you need for you, your dog and anyone else you come into contact with to live a safe and happy life.
For many that does mean "sit", "stay" etc. But it is worth considering what it is you really want rather than just following suit.
For example, I have never bothered teaching battendog 'No'. I think it is a vague and pointless command that is unlikely to mean much to him. If you find it useful then more power to you. It's just not for me.
There was a bit of a debate on another thread about someone who never taught "leave" because they fundamentally didn't like the command and preferred to use a different method to interrupt a dog who might be able to eat something nasty.