Avengers 175 was cover dated September 1978 and was on sale June 1978, sharing the spinner racks with All Star Comics #74, Black Panther #11, Flash #265, Iron Man #114, Justice League of America #158 and X-Men #113.
The End and Beginning? Was written by James Shooter and David Michelinie and pencilled by Dave Wenzel. It opens with the Avengers (a full roster of Captain America, Thor, Hercules, Quicksilver, Jocasta, Iron Man, Vision, Scarlet Witch, Black Widow, Moondragon, Wonderman, Wasp, Yellowjacket, Black Panther, Hawkeye, Two Gun Kid and Captain Mar-Vell) standing over the dust pile that used to be the Collector. Iron Man looks around the Collector’s ship and finds a time machine. There is then some exposition about Thor’s recent jumps around time, explaining his not remembering the events he witnessed. Iron Man sends Two Gun Kid back to his own time and the once the Vision finds the teleporter, the Avengers back to present day Earth. The team head back to Avengers Mansion from the various points that they were teleported to.
Back at Michael’s house, Michael and Carina merge together and their histories are revealed to one another and the reader. Carina reveals being sent to Earth by her father, the Collector to find, seduce and destroy Michael, but she soon fell in love with him and instead of betraying Michael, she betrayed her father instead. Michael too reveals his history and we learn that the Collector and the Guardians of the Galaxy are seeking the same person. Michael the Enemy is Korvac. We learn that after his defeat at the hands of Thor and the Guardians, Korvac teleported to Galactus’ World-ship and when he tried to interface his computer systems with the world-ship, he became imbued with power and knowledge far beyond anything ever expected and he became the being called Michael. He refashioned his body to appear human once more and left for 20th Century Earth to live out a normal life whilst he waited for his chance to take proprietorship of the universe. Not for power or glory, but to fix the universe, freeing it from chaos and injustice.
Back at Avengers Mansion, the Avengers bicker and there are several vignettes showing the Avengers not doing the super-hero thing. Wonderman shows Ms Marvel, who shows up citing her 7th sense, around the gym. Quicksilver slags off Jocasta and Vision before leaving. Iron Man broods, fearing he can’t do all he needs to do, before swallowing it all and pressing on. He decides to contact the Guardians of the Galaxy. Starhawk neither realising he has found Michael already, or that Michael is Korvac declines, saying that he must wait for Korvac to appear. Martinex suggests that Starhawk helps the Avengers, so Starhawk leaves. Michael Korvac sees all this and hopes that the Avengers listen to Starhawk and are led away from them. because Korvac has no emnity towards the Avengers and it would be a pity to have to destroy them.
Notes: The stage is set, the players are in place. The final act of the Korvac Saga is about to begin.