Had they not already bastardized it for an animated film, I think that an abridged version of the first volume of the "Ultimates" would have made a pretty good Avengers film. That's more or less the style and tone I'd go for.
In fact, I had always thought the whole point of the "Ultimate" universe was to design "movie friendly" versions of the classic Marvel U characters.
I don't think it worked out that way, however.
