"When I spoke to Downey Jr, it was definitely something he was interested in. I saw him briefly before he went away to shoot 'Due Date,'" said Favreau. "I just started talking Steven Spielberg and Ron Howard and Alex Kurtzman and Roberto Orci. It's a really great bunch of producers and writers, and it's already a great script. It's nice to have a piece of material this far out."
As far as his involvement, despite Favreau being announced as the project's director back in early September, the 'Iron Man 2' director didnt actuall confirm his involvement.
"We've been discussing the idea of me directing it. I like the project, they like me. It's all about release dates and windows and availability."
"When you're a director on these projects, it's a very director-heavy medium—moreso than any other genre i can think of, because the director has to be involved in the planning, the design, the shooting is painstaking ... and the editing room, with all the CGI it's like you're starting a whole new movie," he explained. "It's a two-year process to direct one of these films, and you have to land on that date, whatever that summer date might be."
So, could this mean that Favreau will be too busy with 'Iron Man 3'? With past rumours indicating that there will be a third Iron Man movie before the Avengers in 2012 it could mean that that may indeed be the case..!