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While all this is all happening, Ivan Vanko, who wants revenge for his fathers death because he thinks that his father was robbed by Tony's Dad, Howard Stark, who once worked with his Ivan's father on the arc reactor back in the 60's, is traveling to Monace, where Tony is racing. Shit! And he has a full on arc reactor and armor to go with it, ready and waiting for him to put it on and kick Tony's Iron Man ass when he get's to Monaco. So while racing, Vanko walks onto the race track and basically rakes havoc and tares up the race cars with his whips. He then get's to Tony, who then puts on his new Mark 5 suit, which is the brief-case suit. This is an amazing suit. So cool how it opens up. So they have the big showdown on the track which ends with Vanko getting taken down by Iron Man and the police arresting him.
Vanko is then broken out of jail by Tony Stark's competitor in the weapons world, Justin Hammer (Sam Rockwell). Hammer thinks that he can use Vanko's experties for his very own type of Iron Man armored project, which has failed tragically in the past. Vanko rebuilds all of Hammer's suits and makes them run on computer-controlled machines, rather than have people in them.
Whilst this is happening, Tony Stark's arc reator is slowly killing him, as he discovered palladium in it that was poisoning his body. So because of this, Tony appoints Pepper Pots (Gwyenth Paltrow) as the new CEO of Stark Industries, replacing her with Natalie Rushman (Scarlett Johansson) who is actually an undercover S.H.I.E.L.D agent, Black Widow, who's working for Nick Fury. Fury gives Tony a medicane that can keep him living longer and gives him old artifact's from Howard Stark (Tony's dad) to help him make a new triangular arc reactor that is stronger and will keep him alive. When this is all happening, Rhodey took the Mark 2 suit and got Hammer to pimp it up with some big guns to use for amry use. The War-Machine suit is excellent.
That's all I'm really gonna tell yah about the film's plot. It's not much, but a really don't wanna give too much away for those who are gonna go and see it. Seriously watch it. OH! Also, watch out for a parts of Captain America and Thor. Not telling what parts show up, just watch very closely to see what parts they are.
Overall I'd give this film 10 out of 10. I really couldn't find anything wrong with this sequel, it was perfect. I can easily say that I'm really looking forward to "Iron Man III" and the next few Marvel Comic film's, leading up to "The Avengers" movie.