The Collaborative International Dictionary of English v.0.48:

Repute \Re*pute"\, n.
   1. Character reputed or attributed; reputation, whether good
      or bad; established opinion; public estimate.
      [1913 Webster]

            He who regns
            Monarch in heaven, till then as one secure
            Sat on his throne, upheld by old repute. --Milton.
      [1913 Webster]

   2. Specifically: Good character or reputation; credit or
      honor derived from common or public opinion; -- opposed to
      disrepute. "Dead stocks, which have been of repute." --F.
      Beaumont.
      [1913 Webster]

The Collaborative International Dictionary of English v.0.48:

Repute \Re*pute"\ (r?-p?t"), v. t. [imp. & p. p. Reputed; p.
   pr. & vb. n. Reputing.] [F. r['e]puter, L. reputare to
   count over, think over; pref. re- re- + putare to count,
   think. See Putative.]
   To hold in thought; to account; to estimate; to hold; to
   think; to reckon.
   [1913 Webster]

         Wherefore are we counted as beasts, and reputed vile in
         your sight?                              --Job xviii.
                                                  3.
   [1913 Webster]

         The king your father was reputed for
         A prince most prudent.                   --Shak.
   [1913 Webster]

WordNet (r) 3.0 (2006):

repute
    n 1: the state of being held in high esteem and honor [syn:
         repute, reputation] [ant: discredit, disrepute]
    v 1: look on as or consider; "she looked on this affair as a
         joke"; "He thinks of himself as a brilliant musician"; "He
         is reputed to be intelligent" [syn: think of, repute,
         regard as, look upon, look on, esteem, take to
         be]