As Captain America battles the always dangerous duo of Cobra and Mr. Hyde, the Golden Avenger, Iron Man, arrives with good news and bad news. The good news is that he's found Cap's shield (see Captain America (3rd Series) #2 to see how he lost it). The bad news is the previously thought indestructible shield has been shattered into a hundred pieces. To make matters worse, the Red Skull has returned and he's more powerful and more dangerous than ever before! Plus, the enigmatic Watcher shows Cap a dystopian future that just happens to be the Avenger's fault.