Recently rewatched this. I own very few DVD movies, but this is one that I watch rather frequently.
The Punisher: 9.5/10
This, much like Garth Ennis's comics, really captures the essence of Frank. Sure Thomas Jane was closer to Ultimate Punisher than 616, but that is expected (almost all the movies are using the 1610s). The movie managed to capture Frank's descent into the underworld perfectly (without the bull**** attempt to let him return from his descent). And the soundtrack was actually pretty damned good too (including the generic songs that only play during the credits). Was a bit tame, but even Marvel Knights Frank would have gotten an NC-17 rating.
That being said, I think the reason a lot of people bashed the movie was that it was NOT a Punisher movie. It was a Frank Castle movie. For most of the movie, he is just a man looking for vengeance. It is only after he sees the aftermath of Spacker Dave's torture that he transforms into The Punisher.
I would have given it a higher score, but the rewrite of Joan just felt awkward and forced.
Sidenote: I still say it should have been a trilogy. Second movie would be a prequel with a rewrite of Born (to fit the new timeline) to show the accepted origin of The Punisher (along with flashbacks to Tyger, since that was just so ****ing amazing. Plus it was the when the seed of The Punisher was first planted in young Frank Castilogne's mind).
Third movie would have been The End, with flashbacks to The Cell (write it so he is going after the rewritten Jigsaw and maybe Mickey, who had used Frank to take out the Saints [to get revenge for his father's death]). Rewrite it so that The Cell was the final act of Frank's career (he stayed in prison afterwards) and reveal what happened as he wanders the nuclear wasteland. End with the tear-jerking scene of Frank collapsing on the road where his wife was run over (not quite the Central Park, but have to accommodate the current state of movie Punisher).