It's obvious that the 'Punk Goes'... people have been dying to do this since they realized that "punk" and "crunk" rhyme, but I tried to listen to it with an open mind. Frankly, I'm quite surprised that this is the same label that released Bigwig and At the Drive-In records.
Set Your Goals are one of the few decent bands on this thing and actually open the compilation in fair fashion, covering Lil Jon's "Put Yo Hood Up." In particular, the gang vocals are pretty cool.
However, from here we go into a relentless string of flavor-of-the-week bands covering flavor-of-the-week songs. Especially bad are the covers by the Secret Handshake (so whiny!), Forever the Sickest Kids and the Devil Wears Prada (screamed vocals. ugh). Whether the bands stick with their usual instrumentation or try to reproduce the cell phone sounds of the original, the results are bland and unappealling. However, I will admit, New Found Glory's closing cover of Arrested Development's "Tennesse" is listenable.
In conclusion, I have no idea how these bands can possiblely construed as "punk," and how in the world Rihanna and Will Smith are "crunk." Honestly, I'd try to avoid hearing this.