Toy Biz Iron Man. I've said it before, but I'll say it again, even though these are a bit clunky, they are still some of my favorite Marvel action figures. Iron Man especially. When this figure came out I immediately picked up a couple so my son, as well as myself, could get our hands on this character.
Whenever I see this figure it reminds me of a halloween costume that we constructed for my son based on this armor. That was one of the best costumes we came up with (I'll post some pics as soon as I dig them out of the archives).
I think anytime an Iron Man toy is made it is based on his current armor, with some exceptions from the cartoon line that Toy Biz tried to do the "Batman of many costumes thing". This was as close to holding a "classic" Iron Man as we could get at the time, I think I was drawn to this figure just because I always wanted the Iron Man Mego figure, and this would have been a somewhat less expensive alternative till I could find an Iron Man Mego that I could afford.
One day Iron Man Mego, one day...