[cellardoor]

The first release of the Jim Lee costume Wolverine is truly awful, now residing in a box since I tracked down the variant with the much better head sculpt. It's still a lousy figure, too tall, loose legs, flimsy blades and impossible to stand in anything but the most rigid pose.
The Jim Lee costume Jean Grey is also a terrible representation of the character.
Both of these guys do have improved versions though, the phoenix costume Jean Grey is great and the many version of Wolverine in the Origins comic line are great.
My absolute least favourite...hmm, the secret wars Reed Richards is a turd, but swapping the head onto a Johnny Storm body solves that...
I can't think of any figures that are a total loss to be honest, they all have merits in their own ways except maybe some of the first wave.
Punisher, bad head sculpt.
Daredevil/Bullseye, too small.
Silver Surfer, not Silver and can barely stand on the board.
Spider-man, flimsy and slightly wonky build.

Comparing that first wave to Cable and Apocalypse from Wave 13 it seems like they're from totally different toy lines.