Who they need is Madame Masque. Almost the only fucking interesting character to ever come out of Iron Man comics.
And I agree about Whiplash. Fuck, I read comics and I don't know or care anything about that character. Just be glad he looks nothing like in the comics.
Guy even carries a purse.
While Iron Man has not been my favorite Marvel character, I like him and think that a lot of good and interesting stuff has come out of Iron Man. Instances of quality stuff to come out of Iron Man are Hawkeye, the Black Widow, James Rhodes (before he became War Machine, he was a great supporting character), Bethany Cabe, the 'Demon In A Bottle' storyline, the Doctor Doom time travel storyline...pretty much most of Michelene's run as a writer. And Tony himself is an interesting character, to say the least.
There's nothing I can say to convince you to actually LIKE any of these things, but the argument that good stuff exists in the IM canon is valid, I think. And the current Fraction/Larocca run on the book is better than I could have ever expected out of IM.
That said, Whiplash probably wouldn't have been my first choice. I would have gone with Titanium Man, Madame Masque and The Maggia or the Crimson Dynamo before Whiplash. And this version of Whiplash seems like a cross between the comics' version of Dynamo and Whiplash. Last I checked, Whiplash wasn't a Russian guy angry about Tony's war profiteering.
Mandarin would be the ideal enemy for Iron Man but I think they're gonna wait to cross him over with Thor in the Avengers movie to get people acclimated to the notion of things like alien science. That way, audiences won't think it's quite a stretch to explain the origin of the ten rings of power.
As for Don Cheadle, I am not pleased that they changed the actor but Terrence Howard backed the producers into a corner and he wasn't willing to take a paycut. He was making more than Downey Jr. and he didn't mean nearly as much to the flick so they made a business choice.
Don Cheadle is a perfectly fine actor and will play off of Downey Jr. on the screen much better as he has bigger acting chops than Howard, IMO. It will nag at me, but if Cheadle's any good in the role (and I expect he will be good because the man can act), I'll quickly forget the mighty Terrence Howard was ever in the first one.