We knew Iron Man 3 was on the cards, but director Jon Favraeu hasn't said much about it so far. Now we have some news, with Disney acquiring the distribution rights, and now the official release date of May 3rd 2013.
All that we know about the plot of the third movie is that it will (most likely) feature The Mandarin as the villain. Jon Favreau has said of the character..
"You've got to do the Mandarin. The problem with the Mandarin is that the way it's depicted in the comic books, you don't want to see that. He has 10 magical rings — that just doesn't feel right for our franchise. So it's either tech-based, or the rings are not really rings. But maybe with 'Thor' and all those others, you'll introduce magic to that world and it won't seem so out of place."