We just got back from Iron Man, and I must say it was really, really good. Very cool flick, lots of fun, action, silliness, and comic-book-type overthetoposity. In fact, I wouldn't hesitate to tell people to go see it. And that's coming from me! Of course, since this is coming from me, I do have the odd nitpick or two^*. Mild spoilers below. Actually, these really are mild complaints. In movies, inertia and momentum never seem to be problems. Falling from the sky from several thousand meters up = dead guy. Period. The suit can be as strong as you like, but the guy inside is still made of squishy organic glop, and it has inertia. The suit may survive the impact intact, but Stark would be not much more than a slightly gelatinous smear covering the inside front of it.
Ditto for when he tests the rockets. Hitting concrete ...