For those not familiar with Captain Action, he was the second 12" action figure created in the 1960's following the popularity of the first 12" figure, GI Joe.
While the line only lasted about two years, in recent decades, he's been reissued and re-released several times. The concept behind the figure was simple, but very cool. Captain Action was his own hero character, but could also transform himself into several popular comic book and pulp characters, such as Spider-Man, Buck Rogers and Superman, all through additional costume sets.
Even though the original line was produced before I was even born, as a >a-hem< "toy historian" I recognize the importance of this figure line and have had several original Captain Action figures and set in my collection over the years. As far as the modern re-issues go, the biggest problem that I've had with them is that they are never produced with modern, high-end collectors in mind. Instead, toy companies simply try to faithfully reproduce the original Captain Action figure.
Go Hero, in cooperation with Phicen Limited, have rectified that-- in a way-- with the release of Lady Action.
While this figure forgoes the original concept of switching costumes to create new character figures, it is produced with the kind of collector level quality that the Captain Action brand has never seen.
So, why Lady Action and not the original male Captain Action? Well, I think that comes down to the involvement of Phicen, whose main focus is in producing 1/6 scale female figures.
Personally, I'd be very interested in picking this figure up-- as it's definitely a beautiful looking figure-- but I'd need a 12" Captain Action of equal quality to go with her. Go Hero produces mainly male pulp era characters, so it is possible that we may see a Captain Action from them, but I'm not betting too hard on that.
This figure is slated for a Jan/Feb release for $144.99