Yeap! The Captain America movie scheduled in 2011 can indeed be considered as a reboot movie.
Actually, a low-budget Captain America movie, starring Matt Salinger as Steven Grant Rogers / Captain America, was released in 1990. But the film did not reach fans' expectations although it was rather entertaining:
Captain America Trailer (1990)
Must admit that the Captain America interpreted by Matt Salinger was kind of starry eyed... If Marvel really wants the film to sell they should hire a director like Christophe Nolan or Louis Leterrier, they are both experts in movie reboot!