Notes of things I noticed on second viewing:
Rhodes is still mad during the strippers scene. I initially read it as him getting drunk and forgetting about what he was mad at Tony about, but listening to him more this time around I realized he's still listing his complaints, even as he has a bottle of sake in his hand (plus he's totally not looking at the strippers, whereas Tony is kind of trying to brush him off so _he_ can look at the strippers).
Yinsen is from Gulmira.
At the red carpet party, Obadiah tells Tony he locked him out to protect him. I initially read it as more threatening -- like that he's flat out telling Tony that he's the one who filed the injunction against him, knowing Tony can't do anything about it -- but I think what he's actually saying is that he filed the injunction to lock Tony out so that Tony won't get blamed for this . . . he's still trying to have Tony believe that he's on his side. Which makes more sense, 'cause there's no reason for him to antagonize Tony, but it's still weird because he seems so threatening in his tone/attitude/whatever when he's saying those lines.
Obadiah tells the Ten Rings guy if he'd killed Tony like he was supposed to, he'd still have a face, and Ten Rings Guy replies, "you paid me trinkets to kill a prince." So we do know before we see the video that Obadiah placed the hit. When I first watched it, I hadn't caught that Obadiah had been behind it until the video.
These scenes all come right after each other -- Obadiah goes to Afghanistan and gets the suit, Tony tells Pepper to hack in and get all the shipping manifests ('cause of the photos Christine showed him), Pepper sees Sector_16 files with suit prototypes, Pepper leaves the office and sees Coulson and they go to bust Obadiah. Okay, somewhere in there is Obadiah yelling at the engineer for not being able to miniaturize the arc reactor. But the timing is really weird because Obadiah gets the suit after the party, but it would make sense that it would be immediately after the party that Tony would ask Pepper to get the shipping manifests, but Obadiah has to have had time to re-engineer the suit.
I caught this time that Tony never even says "Hello" when Pepper calls, and that Obadaiah clicks the phone off when he takes it away from paralyzedTony.
Obadiah says to Tony, "When I put out the hit on you," and also says, "wish you could see my prototype -- not as conservative as yours," so we do know that Obadiah's suit is going to more than just Tony's original -- I had missed that on first viewing. I don't really understand why Tony/Jarvis is/are surprised that Obadiah's suit can fly, since Tony's original suit could fly.
Doesn't the elctro-magnet keep the shrapnel from going into Tony's heart (which process Yinsen told him would take a week), not pump his heart for him? I mean, when he has Pepper swap it out he's fine the whole time except for when she accidentally shocks him by letting the copper wire touch. So why is he like half-dead when he goes to put in a new one this time?
After the roof gets fried (and I still can't figure out where Tony lands, btw), we see Tony's chest-piece flicker, and then we go to black screen and come back to Rhodes being solemn at a press conference, but the crawl mentions that Stark is going to deliver a prepared speech and we matter-of-factly cut to Stark in the green room with Pepper and Coulson. This confuses me, makes me feel like I missed something and wasn't supposed to have read his flickering chest-piece as him dying at all (but I swear it doesn't go back to full glow before the screen goes black -- I was purposely watching this time), except that the solemn press conference made it feel like we were going for some dramatic fake-out.
After Tony says he's Iron Man, Christine stays seated while all the other reporters clamor.
We were talking afterward, and I mentioned that one of the few things I knew going in to the movie was that musesfool said that Tony and Pepper had a relationship like Josh and Donna in The West Wing. Kate was like, "YES!" even though she's only seen like 3 episodes of The West Wing :)