From Comics Continuum:
Marvel Studios' Avi Arad said that the Iron Man movie is in "aggressive development" at New Line Cinema.
"We're dealing with casting issues and directing issues," Arad said during Marvel's second quarter conference call on Thursday.
The film was originally targeted for a November 2005 release, but might be pushed back to summer 2006.
"The November 2005 date is still attainable," Arad said. "But it's a fluid situaton. We should know more in 6-8 weeks."
Could the casting issues be related to the fact that Tom Cruise is supposed to start filming of MI:3 this September, and if Avi really wants Cruise the production has to be pushed back?
If Cruise is starring in, and also producing Mission Impossible 3, it seems like 5-7 months would be a reasonable time frame. Also 6-8 weeks from now puts us in the middle of September.
Source: Comics Continuum