I cant see how it will be released on 4th July 2007 when on Superherohype.com they stated this about the progress about the Captain America film on April 26th:
"The article also states that Captain America will not likely be the first film out of the company's financial deal with Merrill Lynch (Paramount would distribute the films):
Hollywood insiders say Arad had hoped to make Captain America Marvel's debut film. But that's not happening; Arad says he couldn't line up the director he wanted until 2009. Moreover, two films Arad now says could be among those first out of the gate, the Hulk sequel and Iron Man, aren't covered by the Merrill loan, which means Marvel will need another way to finance them."
So it may be Zack Snyder could be directing but no production will be started untill 2009 at the earliest!
Also David Self has been signed up to write Captain America though but it appears Nick Fury will appear in his own film and not in Captain America!
Here is Marvel upcoming films as announced by Marvel Entertainment on May 4th:
"Marvel Studios
X-Men 3, Fox - May 26, 2006 release
Marvel Character Feature Film Line-Up For 2007
Ghost Rider, Sony - In post-production, February 16, 2007 release
Spider-Man 3, Sony - In production, May 4, 2007 release
Fantastic Four 2, Fox - In early pre-production, July 4, 2007 release
Film Projects Being Developed by Marvel (Partial List)
The first film is anticipated for release in 2008.
Ant-Man, Marvel - Writer and director engaged
Captain America, Marvel - Writer engaged
Hulk 2, Marvel - Writer engaged
Iron Man, Marvel - Writer and director engaged
Nick Fury, Marvel - Writer engaged
Thor, Marvel - Writer engaged
The Avengers, Black Panther, Cloak & Dagger, Doctor Strange, Hawkeye,
Power Pack and Shang-Chi are also projects to be developed by Marvel."