Bacon's character is a nasty (but obviously, charming) drug dealer named Jacques who cuts in on an average Joe's (Wilson) wife. Said marital imposition forces Wilson's character to take revenge and become the superhero known as The Crimson Bolt. Page -- who appeared in Juno with Wilson, albeit only in one scene -- will be playing something of a wannabe sidekick to Crimson Bolt, as previously reported.
We certainly have no shortage of superhero deconstructions coming our way (Defendor, Kick-Ass), so it'll be interesting to see how Gunn handles what (based on Wilson's involvement) will likely err toward more of a straight up comedy. Getting Bacon into costume definitely seems like a good start.
(via Screen Daily)