The New IRON Man 2 movie sponsors heavily on this phone, which's now call LG Ally that will be released on Verizon Wireless.  There was a youtube video found, see below for the video.

LG Ally was also known to be LG Aloha, but now we can confirmed, it will be call the LG Ally, features Android 2.1 with a 1GHz Snapdragon processor and 5MP camera, with all the usual bells and whistles.

We are not sure the exact release date but we've heard a mid-May launch window, on Verizon Wireless, we will keep you posted.

source: androidandme