"The thing about Shane is that it will be anything but one of those moments," Downey says of the Marvel project potentially matching the sardonic humor of their previous team-up, Kiss Kiss, Bang Bang, "unless we come up with something that is so cheeky and character-driven and perfect that it has to be in the movie."
Downey also admits that, despite the box office success of Iron Man 2, there are elements of the final film that he's not entirely satisfied with. The aim for the third go-round is to "leave it all on the field" and fall back on the natural rapport between Black and himself.
"We're not talking much about [the script] right now," he says, "because Shane is off writing and we talked before that and when we are talking again, the talking is going to be over pretty quick… It's kind of like we're fighting on the same side and at the same time we're circling each other, so it's all great. It should be great. "
Favreau, meanwhile, is heading off to the Walt Disney Pictures project Magic Kingdom, though Downey acknowledges — albeit somewhat jokingly — that he would like to see the actor/director reprise his role as Stark's bodyguard, Happy Hogan.
Iron Man 3 is currently planned to hit theaters on May 3, 2013.