I just got back from the Italian Premiere.
They showed the movie in English with italian subtitles. Kinda sucked, but I'm pretty lucky to understand english pretty good.
The film is fast, and goes on really smoothly. Reminded me of A New Hope events-succession wise.
Characters are just great. They evolved really well and the new chars are just as good as the old ones. Cheadle was an exvcellent replacement for Howard. I really liked him better! Paltrow and Johansson (or whatever her last name is :P) are awesome too.
Mikey Rourke is a really well done villain and Sam Rockwell is just awesome.
Anyways, this movie will make you laugh, smile, think (it's a little more profound than the first one) and say: WOW in certain scenes.
So, fear not Iron Man fans! Favreau will not let you down!