I don't know how he does it, but Mark Waid is producing some of the best stuff of his rather long career. He's still coming up with stories that entertain highly. This is (mostly) no exception.
This is a sort of retelling of the first Avengers line up change, but it's an all new story, too. The original Avengers all step down and are replaced by this new line up. Scarlet Witch, Quicksilver and Hawkeye join Captain America. And the public see them as a joke. This is quickly rectified when they meet a woman who uses her powers to help boost and amplify the powers of these four. They become a powerhouse team. They invite her to join the team as Avenger X. But because of the nature of her powers, they keep her in the background for her own safety.
However, since joining the team, she actively tries pitting them against each other and tries to take them down. Which is fine, but unless I missed something, there really isn't a sufficient reason for her to do this. And that makes this story crumble for me. It was pretty good up until that point.
And on a tangent, can I mention how much I hate how Marvel publishes monthly books? This volume reprints Avengers 1.1 - 5.1. What? They couldn't make it a stand alone mini-series. They made it issues 1.1 through 5.1 of the regular book? Really? What's the purpose? It's stupid. At least I only read Marvel in trade format, so it's less confusing that way, but still.
Writer: Mark Waid
Artist: Barry Kitson, Mark Bagley, Sean Izaakse, Ro Stein, Mark Farmer, Rafael Fonteriz, Andrew Hennessy, Scott Hanna, Mike Perkins, Ted Brandt