It's wicked awesome. It's basically wall-to-wall ***-kicking. Anyway, here's a summary.
The first few pages are what we saw in the preview. Thor's looking at his reflection in the glass and mulling over what happened when a light shines on him, and he looks up. Cut to Cap and Wasp beating the **** out of Schizoid Man. When they're done, they go by Thor's cell and realize he's not there. Air Force One is bringing the President to a safe facility when it's assaulted by Perun and Crimson Dynamo who rip off its wings. There's a brief cut to Brussels, where all the International Captains are assembled. One of the scientists reveals that if they interfere, the Liberators will let loose America's nuclear arsenal. And one of the Captains says there's one option they can take to help out.... In New York, they have Spider-Man, the FF, and the X-Men in cuffs. In Washington, DC, the Liberators are assembled. Dynamo and Perun bring AFO in, without wings. Pym's worried about Cap's escape, but Loki says they're luring them to Washington DC as a trap. Meanwhile, Cap and Wasp (with guns and ammo confiscated from the Triskelion) are breaking in to the White House to rescue the rest of the Ultimates. They crash through the door to find a huge stack of Liberators corpses riddled with arrows. Scarlet Witch, Quiksilver (unconscious), Fury, and Betty are also there. There's a brief reunion, before all the bulletmen come crashing through the window. Back in New York, Stark is wearing the original Iron Man armor. Everything else was confiscated. His support crew thinks he's flying to Washington DC, but instead, he shoots up into space. He shoots up to a space station, saying "Prepare to activate Iron Man Six". There's a wickede fight between the Liberators and the Ultimates in the White House. Their speedster is beating the **** out of Hawkeye. Swarm is rocking Wasp, and Abomination gets a good crack at Cap, after which we get an awesome full-body shot of Dart Maul. There's gonna be a Cap/Maul brawl (They should call the issue that). Outside, Pym's trying to work crowd control to insue civilians don't get hurt, and Loki reveals he's not using his powers because he doesn't want Odin to find out... In the crowd, we get the shot of a guy from behind, talking to one of the massive Ultron robots. Saying he's not going to let himself get bossed around in his own country after learning to control his powers and traveling thousands of miles. It's Bruce, who then proceeds to shift into Hulk and beat the living **** out of Ultrons.
In short, we get all the Ultimates reunited (sans Tony), including the Hulk. Next issue, we can expect a full-on war between the Ultimates and Liberators in the heart of Washington DC.