It's a little unfair to really judge Hulk's effects against what has come in the genre since, because it came out at a time when the genre was only just kicking off. In that respect, it's somewhat inevitable that the effects work doesn't entirely hold up (not just against other movies but just in its own terms).
There isn't really the right sort of weight to Hulk (partly because of his jumping routine) and he never feels like as much of a monster as he does in The Incredible Hulk and beyond. That might have been partly intended, but the slightly airy physics certainly didn't help.
In contrast, the work that went into rendering Hulk's face is far, far better. His expressions really sell the humanity of Banner beneath the monster and it does feel like there's a performance there beneath the effects work.