Iron Man Film Villain Chosen?

Ultimo? Mandarin? Crimson Dynamo? An Internet fan site is reporting that Iron Man's foe has been chosen for the film.
Warning: Spoilers

Contrary to early drafts, the Mandarin will not be the foe Iron Man faces in the upcoming film adaptation of the Marvel comic, according to IGN Filmforce. Instead, Howard Stark, Tony Stark's industrial father will be the antagonist of David Hayter's rewrite of the New Line Cinema film.

A director is now being sought and production should get underway sometime in early 2005.

According to writer Miles Millar, Iron Man's origin will be "completely different" in the movie than the Vietnam War-era one of the comics. Tony is "not really in touch with where his money comes from, unaware that his wealth lies from weapons, and that history comes back to haunt him. ... It's a great arc for a character to begin with, this selfish reckless playboy, that in the end becomes a hero," Millar told Wizard magazine.
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IGN Filmforce