I think he's a character with a lot of potential, but don't like how slapstick Deadpool has become. I think he's been mishandled lately.
If I ever end up working for Marvel, I'd like to pitch a more serious Deadpool series - still with dark humor and very occasional breaking of the fourth wall (think "Funny Games" if you've seen that movie) - where he is de-powered by AIM or something and forced to work for them. Thus, the body armor.
The bad guys fix his face and 'Pool stops hearing voices after his healing factor is dampened... but he starts hearing things again after a few knocks to the head. He'd team up with Machine Man and fight guys like MODOK.
While I would like some more serious storylines for deadpool, I actually like his attitude and personality now. I see it as his character development. He's mostly gotten over being horribly scarred, has a few friends, and is part of an x-team now. I think he has more stability in his life now ( albeit, still not much) hence his lightheartedness.