If the film is about how white rich (self-made of course) conservatives are right in their world view and foreign people/liberals are always weak/evil/deluded and to be mistrusted, then it will be a perfect Tom Clancy style movie.
Hopefully they will skip that part and just focus on the techno-thriller aspect
Iron Man doesn't have a great rogue's list. I can see why they would shy away from the Mandarin. "Whiplash" already incorporated aspects of the Crimson Dynamo (and wasted them for the most part).
"Armor Wars" is definitely one of the best IM stories. There were some similar thematic elements already in IM + IM2, but not yet really with the Iron Man tech being successfully copied. So, I'd like to at least see some elements of this. Sounds plausible, given the tone they are apparently trying to go with. I guess the "Extremis" tech could be the big break-through that allows Tony to win this time around. It would be better than the "new element" in IM2 which didn't seem to correspond to anything actually new about how the tech worked.