The power source is irrelevant and inconsequential (it would be a side affect of creating the kinetic energy dispersal system, consider siphoning the energy off the evaporation process of a black hole as an example energy source that would be available)
this would need:
1. AI built in to it
2. lasers than can instantly cut through just about anything
3. personal jet engines / rockets and the stability software necessary for flight (ignoring acrobatics)
4. palm based energy blasters
5. kinetic energy dispersal system (whatever it is that makes Stark's insides not flatten when he comes to a stop like that; this is by far the most important aspect)
I doubt we can get an AI powerful enough before 2050 even with the singularity.
The lasers might be possible if we can come up with a powerful enough power source and miniaturization processes (they are basically industrial cutting lasers with a couple of orders of magnitude more power).
If the propulsion system ever happens, it will be someone's fantasy as we would have already come up with far better transportation systems (due to having a solution to #5). The AI would be necessary for adjusting the system to maintain stability.
The palm blasters are an interesting concept. It might be possible to emit a waveform with enough power to break molecular bonds and enough direction to be useful and not to leave behind harmful radiation. However the effect would be more like a lightning bolt than any energy weapon depicted in the movies. The AI would be necessary for the targeting estimates. The kinetic dispersal system would also be necessary for dealing with the recoil of the system.
To say whether or not such a kinetic dispersal system is possible would require a deeper understanding of physics than what we currently have. Newtonian mechanics would prohibit it, but perhaps there is a way to construct something akin to a mass effect field (warp field, spacetime relocation mechanism, etc.), thus reducing the mass of the suit and contents to the point where the momentum is negligible. Such a construct would permit things like FTL travel (useful for time travel only as other uses would be covered by non-euclidean environments), non-euclidean environments (and the nearly incomprehensible energy sources and advancements available with them), and the warping of space-time to exhibit effects like teleportation (teleportation would be the act of moving in a non-euclidean environment; we wouldn't have a need for travel by motorized propulsion systems as we could simply ignore the space between points A and B).
In short, to create the Iron Man suit, we would necessarily already be at least a type III civilization on the Kardashev scale and the concept of why we might make the suit wouldn't make sense. For weapons, lasers, bullets, rockets and blasters are quite useless compared to simply relocating the spacetime in which the opponent occupies. The concept of serious machine assisted locomotion would be equally laughable, devices that would exist would only be for our amusement.