The strongest issue there's been in quite some time!
I can imagine some, perhaps even many, finding this issue plodding, or even to be pure filler. It's a lot of talking heads as our gathered Avengers of multiple teams (minus Storm) mill around waiting to see how Cap and Cyclops' meeting goes. There are a lot of characters here and Bendis, ever at his best with believable dialogue rather than plots, captures each and every one of their voices with a believable love for these characters.
This issue treats the assembled three Avengers teams more as soldiers awaiting deployment than as superheroes, and it's a really interesting distinction. It is hammered home with the team being dispatched at the end of the issue with career soldier the Red Hulk giving them army combat style pointers. With Red Hulk being one of our newer Avengers still, it is really interesting seeing longtime team members deferring to him at this time.
The rest of the issue is largely filled out with character moments between Luke Cage and his wife Jessica Jones. Jessica is Bendis' favorite plaything, and with news of Bendis soon leaving the Avengers line, it is clear now that he's taking his toys with him. It isn't remotely arbitrary, however, as Jessica has a very believable reason for leaving the Avengers behind (her baby), and Luke has some very difficult decisions to make.
While this issue is the beginning of the title's crossover with the big summer EVENT BOOK, and most will be expecting immediate actionactionaction, I am quite pleased with this one issue easing us into things and dealing with some of what's been going on up to now, before ongoing plot threads are cast aside for a few months of crossovers. I applaud this issue on all levels.