War mongerer. Mass murderer. Merchant of death. Billionaire genius Tony Stark has been called all these things and he's okay with that.

Iron Man is the latest comic-to-film installment from Marvel Comics and the first film launched from their newly created Marvel Studios. The film’s immediate success has been due not only to Iron Man’s popularity over the past 45 years but also to the well-conceived, superbly acted and often funny story.

Tony Stark: International Man of Luxury

Tony Stark (Robert Downey, Jr., who could not be more perfectly cast) is rich enough and smart enough to get what he wants when he wants it. Nothing seems to surprise or excite him, certainly not being transported by military escort through the Afghani desert. He’s cracking jokes and charming the pants off the young soldiers, totally at ease in the dusty Humvee in his very expensive suit, drinking what is probably very expensive Scotch.

Without warning the jeep in front of them explodes and the sweet kids who laughed at his jokes are dead seconds later. In the moments before he too is struck by enemy fire, Tony catches a glimpse of the manufacturer logo on the shell casing: Stark Industries. He has literally become the architect of his own destruction.

After getting blown up, Stark is held captive by the terrorist organization The Ten Rings. He’s alive but for the grace of God and Yinsen, a fellow captive who saves his life by implanting an electromagnet in his chest, powered by a car battery, thus completing phase one of Iron Man’s origin: crazy chest battery installation.

36 Hours Earlier

Back when Stark’s life was business as usual, he had no respect for himself or the people closest to him. He rarely gives a straight answer to anyone unless he think it’ll help him get laid and his best friend, Lieutenant Colonel Jim Rhodes (Terrance Howard, who enjoys his own small arc of character development), describes him as “constitutionally incapable of being responsible.”

Stark likes to rebuild classic cars and tinker with his robots like a big kid with a bottomless toy chest. Intelligent but dispassionate, he grills his assistant, Pepper Potts (played with nuanced quirkiness by Gwyneth Paltrow, who shares great chemistry with Downey), about the merits of some artwork and with a careless shrug decides, “I need it. Buy it. Store it.” There is no situation he won’t turn into a party, on the ground or in the air, including on his private jet-turned-night club served by flight attendants-turned-go-go dancers.

Ground Zero

Everything changes in Afghanistan. Stark’s time in captivity marks the beginning of his transformation from an arrogant, cavalier playboy with sketchy business ethics into a dedicated opponent of tyranny with a social conscious. Using only his genius abilities and millions of dollars worth of his own high-tech weaponry, Stark builds the prototype of a mechanized armored suit as a means of escape.

Yinsen helps Stark with his plan. He ultimately sacrifices his own life in order to accomplish a greater purpose, saving Stark in the process. Stark is devastated, haunted by Yinsen’s final request: “Don’t waste your life.”

“There is the next mission and nothing else.”

Stark’s ready to make big changes as soon as he gets back home. He’s done making weapons, he wants to build a better suit, and he wants to include his friends in his new endeavors. He’s acting so unlike himself, they’re distrustful. Rhodes asks sarcastically, “What, you’re a humanitarian now?” And of course, that’s the plan.

Pepper thinks he’s self-destructing and refuses to watch it happen. Outraged that she stood by when he was callous and reckless only to abandon him when he tries to change, he convinces her to stay with heart-wrenching honesty: “I finally know what I have to do and I know in my heart that it’s right.”

Iron Man’s first mission is both an act of vengeance and justice. The U.S. military is powerless against The Ten Rings and nobody else will do anything, but Stark’s got the ego and the resources to think he can. More than half way through the movie, phase two of Iron Man’s origin is complete: the final Iron Man suit is revealed in all its crimson and gold splendor and Iron Man makes his world debut as a hero.

Iron Man: The Total Package

Iron Man marks director Jon Favreau’s first major foray into the action movie genre and his execution is fresh and compelling. Certain plot elements may feel familiar and certain story elements – particularly related to Iron Man’s final showdown with Obadiah Stane (played with benevolent malice by Jeff Bridges, the only man who could look imposing on a Segway) – may not be the most original, but the project is so well-crafted it doesn’t matter.

The cast is headlined by former Oscar nominees (with a win for Paltrow) and they’re all talented enough to take the material seriously without appearing ridiculous. Downey infuses Stark with an easy humor that makes him impossible to dislike; Stan Lee plays what is arguably his best cameo; and the suit is badass.

Iron Man’s suit is integral to the story because it’s the source of all his abilities and it’s really, really cool. The movie is restrained enough to withhold any glimpse of the suit until about thirty minutes in. The story is largely character driven up to that point and what sets Iron Man apart from other action films is that character development doesn’t stop when the action starts.

Favreau uses solid storytelling and filmmaking devices to keep standard superhero fare clever and fresh. Iron Man tells a good story with humor, charm, and heart. The end product is a classic hero’s journey firmly rooted in character. By the end of the film Tony Stark comes full circle and discovers his greater purpose: “Truth is…I am Iron Man.” Phase three complete.