Realistically, he has a minor level of cowardice and paranoia, but mostly a penalty in social and observational skills. The gullibility and mindlessly patriotic bits really are part of a more general solipsism--he pays attention to a given situation and reacts (verbally and decisionwise) based on a very self interested interpretation. He thinks the Korean's puting pots in the ground are planting bombs because he happens to be focused on paranoia that week. Note, of course, that he's only the "bad guy" in that situation because he was wrong. He is very much a cartoon bad guy--having whatever flaw the writers needed that week.
I wouldn't give him many penalty points except poor social skills, and probably 10 points total for the cowardice and paranoia. Most of his "flaws" aren't game book complications. He's really unlikable, but it really isn't a penalty to him to be a relatively selfish, self-interested, belittling-to-others, underhanded ferret-face, except that people react negatively to him.
Frank, to me, is very much like his opposite--Sydney. He's not really a character, so much as a plot device. That's why I found Charles Emerson Winchester III an much more relatable and realistic foil, even though I preferred the earlier seasons of the show.