The Good
I really liked the "Soldier-Serum to possession" angle, because it fits the clandestine nature of the Secret Avengers. Instead of having them exterminate a HYDRA cell, it's more interesting to see something that you don't see Steve Rogers facing that often: mysticism, and some pretty dark stuff, at that.
I just felt that the book came off as a "serious" heist movie, as each character played their role wonderfully. Black Widow, Carter, Steve and Moon Knight are arguably the most street-level of the team, and seeing them pull off something without War Machine to back them up was refreshing.
I think that breaking this up into multiple issues might have been a problem, as it just felt so suited to one. Props to Ellis for being succinct.
This is probably the only issue that I've ever cared about Moon Knight, and it was primarily because he was dressed in a suit and mask. This isn't to say his costume is his problem; it's just that the way he was dressed fit his personality, back-story and role in the mission so well he didn't stick out like a sore thumb.
The Bad
Nothing. I've said this about multiple issues this week, but damn, I mean it with this issue. It earns my five stars, and I will miss this creative team when they are gone.
The Verdict
Have you ever read Warren Ellis' GLOBAL FREQUENCY? If you haven't, and want more of the same thing that was in this issue, read it. It's amazing.
My point is that Ellis does amazing things with clandestine organizations, and even better things when you have a minimal plot. All we really needed to know what the mission vaguely was, and we got a greater idea of the implications as the pages turned and time went on. Each character did what they do best, and were portrayed faithfully and to the best of their ability; the situation they were thrown into was unique, and the implications were dire.
That is what you want in comics. Awesome characters, awesome storylines, awesome creativity.