Yeah, right... Oh, I'm sure at this time, he's as dead as dead can be, for comics. But like so many other comics fans, I don't believe it'll end up being permanent.
What I am expecting Marvel to do is parallel the whole Reign of the Supermen thing, with some replacement Captain America (or Captain Americas) running around, most of 'em not really being able to handle taking on the role.
My best guess as to how it'll end up being resolved, with the return of Steve Rogers? The Red Skull returns and kills off every replacement Captain America that pops up, because he knows they aren't his immortal enemy ("immortal" in the sense that whenever the Skull has a plot in operation, it's always Steve Rogers who shuts him down), and thus, are not worthy to take on the identity. And then Steve Rogers will return as Cap, and we'll find out where he's been all this time, and there will be this huge freakin' battle with the Skull, and the Skull will be defeated once and for all.
At least, until someone at Marvel comes up with an idea to bring the Skull back yet again.
Such is comics.
So, in case you were wondering, I have no interest in getting a copy of the issue in which Cap is "assassinated"... absolutely none. The only Marvel title I've been buying is "Avengers: Earth's Mightiest Heroes II", as well as those occasional Franklin Richards one-shots. I do plan on starting to pick up Fantastic Four again, once the Civil War stuff is all done with (Karl Kesel's started writing the book, and I've always enjoyed his take on the FF).
Besides, I can keep track of what all's going on with Cap in the various news sites I hit each morning.