Let's just start off by being honest:
If you're going to play a half-ogre, you're pretty much limited to being a melee fighter. They make lousy missile weapons specialists and even worse spellcasters. So, we're only interested in their fighting ability in melee combat.
Let's compare a 4th level human barbarian with a 3rd level half-ogre barbarian. They have the same ECL, so they should be equivalent.
If the human fighter started off with a 17 strength, his strength would now be 18 (or 22 when raging). His AB and damage with a greatsword would be +8 (2d6+6=13 average) or +10 (2d6+9=16). If power attacking fully, this goes to +4 (2d6+12=19) or +6 (2d6+15=22).
The half-ogre starting off with a 17 strength will have a 23 strength due to racial modifiers (or 27 when raging). His AB and damage with a greatsword would be +8 (3d6+9=19.5) or +10 (3d6+12=22.5) when not power attacking or +5 (3d6+15=25.5) or +7 (3d6+18=28.5). On top of the significantly increased damage, the half-ogre also has reach with his attacks, a huge advantage.
If the human had average hit points and a 14 constitution, his hp total would be 40 on average. The half-ogre starting with a 14 con (raised to 16 by race) would have an average hp total of 34. By the time they reach 10th/9th levels, their hps will be even. After that, you'd expect that half-ogre to have more hit points. As this issue flipflops, the hit point advantage is a push - better for humans early, but better for half-ogres later.
AC always favors the half-ogre. The half-ogre gets +4 natural armor, -1 size and -1 from dexterity. This is counterbalanced to an extent by the fact that the half-ogre occupies 4 squares and is thus easier to get at (ie; more foes can attack him at one time - of course, this disadvantage is also an advantage in that it is harder to get around the half-ogre to flank or to get at allies of the half-ogre).
Is it harder to get equipment for a half-ogre? Yes. But, in most games, that is a rather easy problem to beat. Either a PC picks up crafting feats or the PCs find someone that has them and the equipment for the Half-ogre is purchased rather than found. This rarely proves to be more than a minor inconvenience, though a DM can design a game that makes this a larger problem.
Saving throws? Half-ogres are slightly behind in all saves due to their LA. They have a stronger fort save, but a weaker will save. Considering most people target melee fighters with will spells, the half-ogre is weaker in this category, but not by a huge amount.
In the end, the half-ogre is far better at doing what melee fighters are supposed to do: Dish out damage and prevent enemies from getting at those behind them. Their disadvantages are too little to account for their benefits. I advise *strongly* against allowing thi race as a +1 LA.