Seeing how Favreau & co. reimagined Whiplash, I'd like to see a updated version of Dreadknight.
http://en.wikipedia.org/wiki/Dreadknight
Dreadknight wears a steel alloy body armor granting him superhuman strength and durability. The character uses a power-lance capable of projecting energy blasts; electrified steel cable bolas; miniature missiles; and also uses a carbon dioxide pistol that fires concentrated nerve gas which can render unconscious or kill opponents. Dreadknight rides the "hellhorse", a mutated bat-winged flying horse that was genetically engineered by Nathan Garrett and Victoria Frankenstein.
Bram Velsing is a also gifted scientist with skills as an engineer.
Just get rid of some of the more cheesy elements like the Frankenstein and hellhorse, blah blah blah.
Ultimate Comics just recently revitalized him in Armor Wars:
http://blog.comicbookrevolution.net/2009/12/comic-book-review-ultimate-armor-wars-3.html
This version looks like a sort of mix between Titanium Man and Batman's Black Mask. Pretty badass, if you ask me