Wolverine is horrible. Really bad. There are about ten thousand plot destorying holes, horrocious acting, bad pacing, weird cameos, mangling of characters. It's easily the worst movie I've seen in years.
[spoilers]
Wolverine, the man with super smell and senses can't tell that his wife is covered in fake blood? Also, I have no idea why she pretended to be dead.
Also, ADAMNATIUM BULLETS IS THE GREATEST NEW LOL PLOT DEVICE. They make him lose his memory? Why exactly? Also, we never learn why Sabertooth and Wolverine hate each other. Except that Vietnam drove Sabertooth crazy? What? [/spoiler]
Punisher: War Zone, however, is the best that it could be. Fucking awesome action, bad ass characters, great tone. And a pretty film to boot. Nice colors. Good commentary track, too.
But, god. Wolverine is like. Ed Wood.