An iron man, at least as far as I thought, was basically a crew battle between two people. So like say I was going to versus someone in a 16 stock 4 character iron man, then I would choose my fox, falco, marth, and shiek. Yeah you would basically just go from there.
I have also heard it was done where it is just a 3 character, 3 match game. Where you write down the 3 characters you will use, in order, and they will write down the 3 characters they will use. You play the 3 matches and whoever wins more wins. I think....
You can always adjust the number of characters you use and whatnot.. I'm not exactly sure. For the second version I think its 5 characters first to 3 wins but its really whatever you want.
I'll eat you up in a 2 man iron match! FOX FALCO YES!!