The reason for the suitcase armor is so he can have a portable Iron Man. Also in the comics he starts to be consumed by Iron Man just as Peter Parker became with the symbiote...
Looks like Museum Replicas is making an IM briefcase. Too bad it's not even close to 90% accurate (and I don't mean inaccurate as in it doesn't transform into the Mk. V armor). :cry
I world like to see our own Masked Rider take a shot at this. I wouldn't be expecting a working briefcase, just a static prop with all the fine details.
I always wonder why they bother getting the license and then not make the things even remotely close. And if its Museum Replicas you know they're expensive and have no resale value.