According to Latino Review, Howard Stark will be played by Tim Robbins in the sequel, because "Jon [Favreau] wanted to get a good actor because he didn't think the guy who played Howard in the last film could carry such an important scene." Heck, if Terrence Howard wasn't good enough to stay on, it's no surprise that Favs would look for a bigger player to pull off important Stark family scenes. I'm not drooling over the decision, but it definitely sounds like a solid choice.
And, just to sweeten the deal even more: Rumor has it that Hawkeye and Black Widow are definitely in Iron Man 2, and not just little cameos. A tough Russian woman with flowing red hair, clad in head-to-toe black leather? That sounds like a good idea to me. Any thoughts on who should play her, and Hawkeye for that matter?