Yes, this is a figure of the Iron Man Mk III, and it's actually been released before. So what makes this version different? The original included a base in which you could recreated his iconic "punching the ground landing pose", whereas this one comes with a Hall of Armor display.
The figure is pretty cool and has a fairly wide array of features (see second pic). It's done in the 1/10th scale, which makes him about 6" tall-- but he's mostly diecast, so that is really cool! What's not so great however is the price. He'll be going for a whopping 189.99. For a 6" figure-- even a diecast one as nice as this, that price is tough pill to swallow.
But, since this is the second run, I'll have to assume that the original sold well enough at that price to warrant this second go-around.
Look for this new version to arrive some time in May at the aforementioned 189.99
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