Just watched the first movie there, and I've got to say, for a hero that I don't like very much, it was a well written and well played film. Downey Jr. stood out with a particularly good performance, but I can't fault any of the cast.
I do, however, have huge reservations about the next film; all of Iron Man's best villians are defunct, I mean, who is afraid of Communism anymore? In addition, the likes of AIM and Ghost aren't very well set up within the film continuity, as Stark and his company seemed at odds, and that will be difficult to accept as immediately reconciled. Justin Hammer might work as an enemy, but again, that would be undesirable and perhaps feel like a rehash of the first plot of 'industrialists trading arms to bad guys.'
I doubt that the film will pursue the idea of Tony as an alcoholic, interesting as that might be, but I am really hoping for something good, considering just how awesome the first ended up being. I'd love some Doctor Doom, but that's not going to happen, the connection between Doom and Iron Man wouldn't mesh well with the 'realistic' approach the film takes.
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