Yo dawg, I heard you like Iron Man armor, so we made you a suit of Iron Man armor to wear over your Iron Man armor, so you can be an Avenger while you're an Avenger.
Internet memes aside, this is a pretty cool toy. I'm generally a fan of anything that reminds me of Exo-Squad or MechWarrior, which were some of my favorite things ever as a kid. This figure does just that.
Presumably, for occasions when Iron Man's normal armor isn't armor-y enough, he's got this extra large set of over-armor-armor to climb into and pilot into battle. Personally, I think this makes for an awesome movie-verse Hulkbuster.
The armor itself rocks. The two leg-mounted missile pods, shoulder mounted missile pod, missile launching gatling gun, and the arm mounted missile launcher are all removable, and can be switched around with each other, thanks to using the same size connectors.
Articulation is decent as well. Ball joints at the shoulders, hips, ankles, and the pilot arm thingies, hinged elbows, and swivel wrists and head. There are also flaps at the back of the leg that flip up above the heels, and the front of the armor opens for the pilot by hinges at the top of the torso and on each leg. There's also a large plug-in port thing on the back, but I haven't figured out what this is for yet.
The only thing that could've made this set better would be some metallic paint. Overall, if you're into robots/mechs/suits-of-armor-piloting-other-suits-of-armor, you can't go wrong with this set.
Useless trivia: This figure was originally planned for release in the Iron Man 2 line, along with a War Machine version, but was cancelled, like many other cool things in that line *ahemcoughunmaskedtonystarkrhodeyandblackwidowcoughcough*. Luckily it was able to be released here in The Avengers line. Unfortunately the War Machine armor doesn't look like it will be. Instead, that was repainted and re-purposed for Captain America. 'Cause that makes sense.