He stated what is already known, and that is that Nick Cassavetes is the director for the film. As to the film itself, Arad stated it will be a "huge movie". He called it "G.I. Joe meets James Bond meets Tom Clancy." The movie will involve "cars, trains, jets, submarines, torpedoes, you name it" but he emphasized that it will still be "rounded in character." He also referred to it as a "dream machine."
As to production status, he stated that they are "starting on the journey and will serve it when it's ready." That statement is in reference to the debacle that was Elektra, which he blamed on the fact that it was extremely rushed and released before it was ready.
Arad also commented that a lot of stars are interested in playing Iron Man, and that many actors are eager to work with Nick Cassavetes.