I think this book would read better in trade. Matt Fraction is weaving a fascinating tale documenting the fall of Tony Stark, but not a lot happens each issue. In fact, whole issues pass (like this one) with no real conflict. This is more an espionage book than a super-hero comic at this point, so I'm not sure I'm reading it the right way.
I guess Madame Masque defeated Pepper Potts in her Rescue armor last issue, because she turns over the armor to Norman Osborn, who adds it to his Iron Patriot armory. Of course, I suspect that Pepper Potts is actually dressed like Masque, and Masque is unconscious in the Rescue armor. Fraction has Tony right a nice little email filled with typos and mistakes where he expresses his concern for Maria Hill. Tony totally gives up the email code developed earlier in the story arc, and he signs his email with an uncharacteristic "Love, Tony." Stark is almost totally gone, folks. I'm betting we'll get some new armor after this story though, so I'm looking forward to that.
Salvador LaRocca does a great job with the talking heads, but I'd love to see him drawing more action. Even when HAMMER shows up to arrest Black Widow and Mariah Hill, there is very little conflict. There's a nice shot of Bucky Cap watching them get caught, so maybe this is a plan, but there is just about no fighting. Maybe we'll get more when Bucky Cap gets more involved next issue.