Ultimate Avengers

To be honest, even though they did boost his power level for Ultimates he still doesn't really compare to anyone on the team in raw power. Although in the last issue of The Ultimates, Hawkeye who has NO superpowers, managed to kill about a dozen armed men with nothing.

But yeah, Cap is just a man on 'roids – he's cool and he can kick ass but regardless of how well he fights his powers don't match up, no.

Okay, let me restate:  Cap seemed to have a more wussified personality in the Ultimate Avengers movie.  He just came off as kinda eh.

Ultimate Avengers is okay. if you thought like most smart comic readers that Ultimates is just a watered down version of The Authority, well Ultimate Avengers is even more watered down, it's a kids movie. If you really want goodness watch Justice Leauge Unlimited.

I  would have to agree with flash that, in the comic he was kickass and take names.  Fungo is also correct in that Cap. is a leader, the tactition and strategist, not the heavy hitter (although that shield is quite effective). 

Well, in the Ultimates, Captain America is the heavy hitter.  He is the guy you don't ever want to get on the wrong side of.  He took on Giant Man all by himself and left the guy in traction.  Also, he rarely tosses the shield:  when he wants to hit a target outside of arm's reach, he shoots it.  He frequently carries an M-16.  When he was under suspicion as a spy, he fought his way through a dozen or more other super-soldiers while drugged.  When he fought the Ultimate Red Guardian, he put a wooden stake through his opponent's chest, which ended the fight quite decisively.

When he can't handle someone himself, he'll try something sneaky to deal with the guy.  He dropped a tank on the Hulk, and then when the Hulk reverted to Banner, Cap kicked him in the face to knock him out, dispensing with several of Banner's teeth. 

In a later issue, he crashed an F-16 into the Skrull leader, but the Skrull leader was still too much for him to handle, so he tricked the Hulk into dismembering and eating the guy.

Ultimate Cap is not a nice guy – when it's called for he kills without blinking.  He is a reliable man, though, and you definitely want him on your side.