DCnU ollie beats the crap out of frank. Shrugging off point blank bullet shots, oneshotting a bear and jumping from hundreds of feet is some of his recent feats.
Kevlar won't stop rifle rounds, knives or sharp arrows...they are only good for blunt and relatively low velocity pistol type rounds. that is why servicemen wear armor plates as well. Kevlar for weaker rounds, plates for high velocity rounds and knives. kevlar is a weave and an arrow that is sharp enough should make it's way in.
Ill go with Punisher over Green Arrow, but itll be CLOSE. And to anyone who thinks Frank cant hang with Ollie HTH is kidding themselves. Punisher has had HTH fights with some of Marvels best and hes dont just fine. Hes NOT just a guy whos good with guns, hes a beast up close as he is from range.
Not to mention shooting Caps shield out from mid-throw, and shooting SpiderMans webshooters, on his wrists, while Punsiher was flipping backwards. Not saying Punisher doesnt miss, but to any who think hes just a Spray & Pray shooter, they seriously need to think again.