Keep it the same. Wing-tips and all. The whole point is that this guy is a mascot. He takes pictures with kids for newspapers and stuff. He's a public icon (something I haven't been getting much with Ultimate Cap). With a character like this, they should keep the costume as close as possible. Plus it's already pretty realistic. Blue pants, black belt, red and white long sleeved shirt with armor over it. His cowl practically looks like armor itself these days. The gloves, boots, and wings are just for that added patriotic flair.
Please. They did such great jobs with Iron Man, Spider-man, Hulk, and (to a lesser degree) The Fantastic Four and Daredevil. Keep this one faithful too. I want Captain America the patriot, not Captain America the sleak super-soldier (with pouches on his gloves for no reason).