Standard crime story; the Punisher tangles with crooks and some Japanese assassins in New York.
The real attraction here is the art by Jorge Zaffino. Zaffino's drawings are moody and poetic, with a solid grounding in realism. His art here is somewhat reminiscent of Gray Morrow, and is more precise and detailed than I like to see from him (more like WINTERWORLD than WINTERSEA, for those familiar with Zaffino's other stuff). I frankly prefer the other Punisher book he did two years later: KINGDOM GONE. Also, unlike in that book, the colors in this book are muddy and garish. However, the pages are big, the price is right, and the art is still better than 95% of the comics out there. You'll want to flip through this one again and again.
Added bonus: a self-portrait of Zaffino on the back cover, plus lovely Zaffino-drawn portraits of the writer and the colorist.