All 3 are decent
Fighting over which one is the best is getting tedious. I think everyone here can agree that all of them – 1989, 2004, 2008 – are flawed in one way or another, but also had some enjoyable moments.
Lundgren's Punisher is dark, brooding and offers nice 80s action, for example the fight between Lundgren and Zoshka Mizak is just brutal. All in all a good attempt and one of Lundgren's best films.
Thomas Jane's Punisher is a great revenge-flick, and maybe the best of the three when it comes to production value and acting. But it doesn't get the tone right. The dramatic scenes are all well made, but then it jumps right to slapstick with it's Garth Ennis-neighbour stuff. Didn't like it in the comics, didn't like it here.
The 2008 version has a weak script but is packed with old-school action and gore. Stevenson is great as Castle as Dominic West and Doug Hutchison are as Jigsaw & LBJ – They steal the show. Both of them are frightening and funny and manage to walk a fine line between comic-book craziness and gangster-film bad guys – The best villains of all three movies. Pure guilty pleasure.
So for me there's no need to rank them. Until the ultimate Punisher-film is eventually released, I enjoy them for what they are.
FURIOUS 7 - 4.3.15 That's right... Diesel-time, b!tches