(I made the thread, I guess I can throw in my two cents)
To clear up any confusion for future posts, both of them have anything at their disposal they they've got.
I think anyone who predicts this one as a blow-away (no Punisher pun intended) either hasn't done their homework or is very biased. Both of these two men are exceptional, both have their strengths and weaknesses. This fight would be one of those fights that leaves the victor laying on the ground entirely spent.
My personal pick is the Punisher. Granted, Batman underwent a lot of training. But then again, so did Frank Castle before he became the Punisher. Batman is a tactical genius, but the Punisher isn't exactly a retard. He's a sharp one, too. A Batarang is a nifty tool. So is a flashbang. The only thing that would let the Punisher pull out the victory is because he always fights to kill.
And as a side note to Juntai, you know plenty about comics and nothing about guns. M-60 rounds don't 'bounce off' of jack shit - including a triple-weave Kevlar suit. One round would probably not make it through, but you don't shoot one round of M-60 fire. And even if the suit held up, the impact from the bullet would easily break bones and knock Batman on his ass. Anyone who says different knows nothing of basic physics.