Rumors are an interesting thing. They gain strength through multiple avenues -- how long they last, how often they are heard and, my favorite, deductive reasoning. The same goes for the latest rumor assuming Terrence Howard will land a role in the upcoming Iron Man movie.
Howard is Iron Man?
According to AICN, not exactly. Though the rumor initially kicked off by claiming that Howard was being offered the role of Iron Man himself, Tony Stark, deep 'sources' now claim that, if a role was being offered, it will not be Stark.
I finally got one of my sources to tell me that Terrence Howard was indeed offered a role in IRON MAN, but not that of Tony Stark.
Going over my interview again, Favreau listed off a number of IRON MAN regulars who would appear in the film. The obvious conclusion I reached was that Terrence Howard was offered the role of James Rhodes, good friend to Tony Stark and future bearer of the armor and IRON MAN identity. He became known as War Machine after Stark reclaimed the name and suit.
I am still having a hard time imagining that Howard would pick up a role such as this, but maybe he feels his filmography is short of a giant popcorn film.