Our friends over at IESB.net did the video interview and captured all this awesome info. See the full interview HERE.
Here are the juicy bits...
About the negotiations ongoing for him (Favreau) to direct Iron Man II...
"It's gonna work out. I have a feeling...we're working it all out. They're actively engaged..."
On the agressive release schedule that Marvel has announced for the film...
"The summer 2010. It's a lot of work to get it done in that amount of time.
"You look at the ones who took three years. ['Dark Knight' director Christopher] Nolan did 'The Prestige' in between. You're able to ...mix things up a little bit. To get this thing done in two years it means that we've got to dig in really fast and be relentless. It's just a wind sprint all the way through."
However with suits designed, the cast already in place, not to mention the marketing infrastructure, Favreau sees development of the sequel keeping pace with the schedule.
He also aims to keep the franchise family friendly, which doesn't mean the franchise can't go to more serious places.
Favreau denies talk that Thor will be introduced in 'Iron Man 2'. He goes on to discuss the ambitious plans for crossover, including the 'First Avenger: Captain America' film.
"That I've seen artwork from that and it's pretty impressive."
He said he aims to be involved in all the movies, in the same way comic writers would discuss crossovers with one another, but his focus will be on the armored avenger.