They did it right with this Hulk.  The first movie version just wasn't very good.  With this one the story picked up sometime after the other movie but otherwise there was nothing the same.  This time the Hulk was a believable character and the rest of the movie avoided most of the blatent cheesiness that was so present in the first movie.

In terms of plot there wasn't much there.  The army is chasing down the Hulk trying to capture him and harness his "power" to make the ultimate weapon.  Their plans go awry when they end up creating the Abomination -- the evil counterpart to the Hulk. 

While the story lacked originality, the special effects were outstanding.  The rendering of the Hulk was absolutely amazing.  It seems the CGI in movies is just getting better and better.

The little twist at the end leaves room for a part two.  We'll likely see that in a couple years.