Adi Granov is doing design work for the film, which is cool cause his re-design of the Iron Man armor in "Extremis" rocked. However, the armor in the teaser poster is NOT the final armor design. Granov said that he chose first-off to make sure that the armor had a circular light on the chest, since the triangle never worked for him.... or me for that matter! Click here for more Granov Iron Man examples.
"There's sort of a Robocop-type quality that this character can have," director Favreau said in talking about which elements he likes in the armor, noting that he likes the ideas of weight and power, and an inorganic look over organic, rather than martial arts. He also said that the feel will be Tom Clancy, "But because it involves Tony Stark, there will be some James Bond in there."
Asked if his Tony Stark will deal with his alcoholism, Favreau said that he's looking at IRON MAN as a group of films, so he'll have time to explore how his weapons manufacturing and captivity, and in looking at the history of Tony Stark and Iron Man, as the stressors grew up around him in the comics, the alcoholism came in, and a similar path may be followed in the film. Favreau said that he'll be starting with the gray armor in the film (yes!!), before moving on to a few different types of armor, and will end with the gold and red, evolving more into a weapons platform than a flying suit.
Oh yeah, the villain is going to be the Mandarin.
Was there really any other choice?