Scooper ‘Advanced Dark’ asked Iron Man director Jon Favreau a question on his Blog and got an interesting response:
We’ve got two(2!) sets of writers typing away on scenes and outlines. We’ve got a room full of storyboard illustrators and concept artists. The story has been fully broken. The villian has been selected and the train has left the station. I expect a rough first draft in the next several weeks, though the sequences are being hammered out visually as we speak. I wont reveal any further details on the plot or villians at this time. Marvel likes to trickle this type of info out slowly, as you can understand, and we are a full two years away from release. I did, however, convince them to share some interesting stuff some time in, oh, I don’t know, July?
At Comic-Con perhaps? We shall see…
Source: Advanced Dark