This third collection of "Essential" Punisher stories is another good collection that has a few shining moments. For one thing, we get to see the Punisher interact with some great standard Marvel characters rather than just the usual drug dealers. Don't get me wrong, most of the stories here involve just the standard "Punisher versus druggies" storyline, but there are a few standout stories.
There is a Punisher/Moon Knight story that plays really well as you see the two differing styles come together to fight Madame Hydra and a radical new drug that has unusual side effects. The Punisher single-handedly takes on the Reavers here, hot off their "Mutant Massacre" attack. That story has a little too much of a "Robocop" feel to it as it progresses, but it's still good to see him face off against some super-powered bad guys.
Unfortunately, the book ends with a 6-part Jigsaw storyline that really kills the momentum of the book. It's obvious at that point that the series was just trying too hard, as the Punisher starts getting gadgets in the battle van he's never had before (fire-extinguishing foam hoses for traffic accidents, the ability to drive off a bridge and not blow out every tire and shock in his heavily-armored van, a motorcycle with a dash-mounted machine gun, etc). Add to that the fact that Jigsaw's return was treated more as an oddity than a serious threat and you get a horrible ending to an otherwise interesting series of stories.
I'm not sure if they'll take this collection to a volume 4, but if they do I hope the stories improve dramatically right off the bat or I probably won't even bother to finish it. This one is recommended for the beginning, but don't bother with the last storyline.