I don't think this is completely correct (I doubt we're going to end up with two nigh-omnipotent artifacts running around the Cinematic Marvel Universe), but I think the core idea here is a plausibly correct one.
(I think there's an even bigger motivator here, but I'll save that for the comments.)
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Very Good Writing – Why Loki Won in The Avengers
Spoiler Alert! Avoid reading this post if you haven’t seen The Avengers. No really, look away! O.k., let’s talk about The Avengers, the highest grossing movie so far this year, and the…
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There is an excellent article on why the Infinity Gauntlet will not be in Avengers 2 @ http://www.ign.com/blogs/wildguy3922/2012/05/14/why-the-infinity-gauntlet-will-not-be-used-in-avengers-2
Thanks. Yeah, basically, the distinction between the Cosmic Cube / Tesseract, and the Infinity Gauntlet, would be lost within the confines of a movie, and really isn't necessary. I mean, during the first Thanos / Avengers conflict, the whole infinitely powerful Cosmic Cube thing worked just fine. The Infinity Gauntlet will just be an Easter Egg in Asgard, I suspect.