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The Punisher has had it with the Hulk's tantrums, threatening the world, hurting puny humans and pushing around super-beings.

He has stolen the gun that Forge created to kill the Hulk.
The Hulk is trashing NY, which give Punisher plenty of places to hide while he hunts down the Hulk.

Is Hulk living on borrowed time?

Yes.

Forge stated it could kill the Hulk in a few bursts.

Punisher does not need a special weapon to kill the Hulk . He would simply kill BRUCE BANNER.

He is'nt dumb so he is not going to go toe to toe with the Hulk.

I see a punisher hulk fight going as the punisher kills the marvel universe fight .

Frank stalks hulk and waits till he turns back into Banner and then kills banner.

Originally posted by grey fox
Yes.

Forge stated it could kill the Hulk in a few bursts.
Characters state a lot of things. Until we actually have some on-panel evidence (or do we have already?) it is relatively impossible to say how much the gun itself affects the outcome.