When I went to camp, the only two videos they had were Demolition Man and Die Hard 2.
We watched Demolition Man twice every single night, and DH2 once.
So I'm sort of biased towards it. But with all the even keeled logic I can muster, I know it's an okay movie. It's DH with some new sets and sort of different dialogue.
DH3 was fun at times, and still had the, "Hey, this actually doesn't suck!" vibe of the two sequels. At this point, Die Hard was "Die Hard and also there were two sequels that didn't completely piss upon the grave of the original." After that - *FART*.
Die Hard isn't a franchise. It's an awesome movie that was so awesome that someone dug through its trash to use its DNA to make to pretty okay clones. But then science went mad and terribleness ensued.