Gold Samurai
Avenger
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If he was able to make the Mark l fly albeit briefly, then I don't see why the far more advanced Mark V can't. I was actually very suprised that they made the Mark l fly. I expected him to just have to walk to civilization like in the comics.
RealIrOnMaN posted a small blurb about the Mark V. It has flight but only for a short time.
Emergency armor that's not as powerful at the Mark 4 also.
http://forums.superherohype.com/showpost.php?p=18104610&postcount=9094
Tony Stark is caught unaware by a surprise attack by the crazed Russian rogue Ivan "Whiplash" Vanko! Luckily, he's got the powerful, portable Mark V armor with him.
The one drawback to the IRON MAN armor is that it isn't very portable, so it's only available when Tony Stark is home. That's why he invented the Suitcase Armor. Though not as powerful as other suits, it's light and compact enough to take almost anywhere, concealed in a simple suitcase.
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Hope that helps.