Comparing the Mummy series to Iron Man is like comparing dog shit to chocolate.  It is not possible.  Sure the Mummy was an all right movie(first one that is) but Iron Man was and is superior in every way possible.  Even the second Mummy was way better than the first Mummy movie.

Jet Li for Mandarin.  Unless anyone else has a better idea for a well know real Chinese actor who could do the Madarin real justice as Jet Li could.  He is a great actor and has the martial arts skills to boot.  Jackie Chan is the only male lead from China but would make for a terrible Mandarin.  He just can not look mean.  Mandarin must look mean.

Chow Yun Fat anyday over Jet Li who I don't think is a good actor at all, never mind his lousy english

Chow Yun Fat would work. I have never seen him act as a villain but I bet he could do it well. That is a great idea.