3x Medium Pulse Laser I:
More damage and less cap than beams. But more important: cpu 16, grid 11 vs. heavy beam lasers with cpu 20, grid 13. They are so much easier to fit.

1x Small Armor Repairer I:
That's a real no-brainer. It's your tank. The stuff that prevents you from exploding. The Punisher is probably the best armortanked T1 frigate in the game. Don't even think about shield modules ;-)

0-1x 1MN Afterburner I in medium slot, 0-2x Overdrive Injector System I in the low slots:
The Punisher is a killer with medium pulse lasers, if he gets into range. More speed helps a lot.

0-2x Cap Recharger I (medium), 0-3x Capacitor Power Relay I (low):
These things give you better cap regeneration. Cap is essential to run your armor repairer, the lasers and the afterburner (if fitted). CPR's gimp your shield boost rate. No shield booster on this ship? Good :-)

1x Small Nosferatu I:
If you have lots of fitting skills (Engineering, Electronics, Weapon