Hmm very interesting Poliwrath, elchupo. I'm guessing it has Rock Slide or EQ to handle Jellicent? Gliscor, Celebi, and Quagsire seems like the safest counter to it.
Actually, I run Ice Punch. Ice/ Fighting gets excellent coverage, and hits all said counters for SE or neutral damage. It also has the benefit of hitting other common switch ins such as the Latis, Zapdos, Dragons and Grasses for SE damage as well. I know that it is still "technically" walled by Jellicent, but in reality it's not at all. With a Sub up, Jellicent can do absolute ZILCH to Poliwrath in return. It can't Wow/ Toxic or Scald, and Shadow Ball doesn't break Sub, so I just boost up to +6 (which is surprising easy against Jellicent). A +6 Ice Punch is usually enough to 2HKO Jellicent, depending on the spread.
Really is it that good? Do you use it in UU or OU? I now kinda wanna try it out. Bulk Up seems odd is it meant to sweep or just poke holes because I cant see it sweeping with only decent speed and decent defense. I assume it follows standard sub punch procedure but with a set up move Im not quite sure. I guess I feel that as soon as the opponent figures out its a bulk up set they can just break the sub and kill you because a plus 1 295 attack stat isnt exactly game breaking...
I love it, but like I said, I don't think everyone "understands" how to work it. I use it in OU a lot and I find it does very well there. It can come in and set up on Forretress, Scizor, Ttar, Heatran, Vaporeon/Jellicent/Tentacruel/Politoed (provided you scout for Toxic). Lots of opportunities for it to set up.
The idea of Bulk Up is to make its Subs damn near unbreakable. I find it can sweep (much more often than a Pokemon with base 70 Spe should be able to) but I guess it's best classified as a hole puncher.
If anyone's interested I can post the spread I use as well as some logs to get an idea of how it works.