It appears that Sam Rockwell and Mickey Rourke are up for the roles of villains in Iron Man 2. It appears the villains for this film will be Whiplash (possibly Rourke) and Justin Hammer (possibly Rockwell).

Fresh Intelligence : Radar Online : Rourke Might Wrestle Iron Man

According to the article, Terrence Howard has been replaced by Don Cheadle in the role of James Rhodes. I liked Howard, but I personally think this will be an improvement.

In case you're wondering what the villains in question look like...

Whiplash


Justin Hammer

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"Even though I'm no more than a monster - don't I, too, have the right to live?" -- Oldboy (2003)

No rumors about Bill Murray playing Mandarin?

Thanks for the heads up. I cannot wait to watch this movie when it comes out!

I think Bill Murray would make a great Mandarin, except he isn't Chinese. A Chinese mandarin role should probably go to Chinese or Chinese-American actors. It's kind of like John Wayne as Genghis Khan.