"S. Rogers" sent in a description of the original armor to be shown in the upcoming Iron Man movie:
"As far as those rumors of the suit being all CG, well I have seen the first 'grey suit' made for his escape and it's very awesome. It has all sorts of functioning parts on it. The one used for the most part is made with actual metal parts, there are several of each suit for different shots and the like. It looks much like the comic version but with a more realist home made look( he makes it out of spare parts that include Stark weapons). It does have the lit up power disc in the chest but no repulsor beams in the hands. He does however have weapons built into his gauntlets. If you read the recent comic re-telling of his origin you might have an idea what they are. Oh and they really work."
If you're not familiar with the comic book armor he's describing, it look like the included image above, and here's another shot of it from Iron Man #5 of the Ellis/Granov run: