Interesting essay. Can't really give much input since I have read absolutely zero Iron Man myself. However, I also love the cheesy villains of the 60's, and am pretty much never bothered by the propaganda and campiness. That probably says more about me than anything else.

As for the taking of suggestions from the readers, it's totally still done in some areas, and as far as I know without lawsuits. I can't really think of a current comics example, but when you said that the first and foremost thing that came to mind was Piers Anthony, whose books are, if anything, now based more upon the suggestions of readers than his own views (Which in a way is sad, since his old books from the 70's and 80's before he started taking suggestions are a LOT better) However, Anthony also has a section at the end of every book after his author's note which names every single person who made a suggestion and what suggestion they contributed. This is usually 3 or 4 pages long. So I guess that's how he gets out of being sued anyway.

In any case, that was certainly an impressive array of thoughts on one book! I've seen a few other Omnibusses for other characters in other stores, but none that I've been interested in yet. I need to check online sometime to see if they've done anything similar yet with Bats, Supes, or the JLA.