I think the fact that there are a lot of new characters helps; and other than the blips in Pym's and Rhodey's behaviour (and Hank gets written all over the board usually anyway) I do find that all the characters are in-character.

I agree that the militaristic nature of the MU these days isn't one I overly enjoy, which is why I pretty much stick to more insulated titles these days (Iron Fist, Thor, and Daredevil are stories that could be told with or without the Registration stuff, and Captain America feels like it could happen either way as well and is a phenomenal read to boot). With Avengers: The Initiative though it focuses on the characters rather than the state of things around them, and as such I still enjoy the book.

I think it safe to say though that if Dan Slott stops writing it I'll probably stop reading it (much like She-Hulk, sadly).

~Hat~