According to Jon Favreau on his blog "Iron Man" will begin shooting in February of 2007. Can you say giddyup? Also he posted the VERY first concept image for the film and WOW is it awesome. Here is what he has to say about the image :
This first image should put to rest any doubts that I am in fact the right director for this project. As you can see, the design was strongly influenced by the Granov/Extremis incarnation of the Golden Avenger. I've also incorporated certain key aspects of the Ultimates, as the design lends itself easily to cinematic interpretation. Finally, for you purists, I've maintained the round chest light as a tip of the hat to Marvel's Silver Age.