I know this thread has possibly been made before, but I searched and couldn't find anything so I assume the threads are just dead and im just gonna start this one, no harm done I guess. plus this is a bit different.
Not only do you think it could exist...you think it would be effective for combat? (or for anything really)
I think that in theory it could exist, maybe not as refined as the one in the comics or with so much extravaganza but it could exist...
However I doubt it would be effective at all, I actually believe that in some occasions it might actually kill the wearer faster.
First of all there is the weight and mobility issue: The suit definitely weights over 40 kilos at the very least, and that doesn't include the weigh of the missiles or weaponry it may have. So you have to wonder how is it that the wearer will be able to move as if he was wearing no clothes at all? not only does he have an extra 40 kg to carry, but he is dealing with a material that is not flexible at all, and the suit doesn't leave any opening, so it baffles me how TS can actually move like a professional ballerina while wearing the suit.
Then there's the defense issue: many would think that because the suit is an armor it would actually protect the wearer from anything, which is partially true, if Iron man would only be getting shot (and even shots would hurt, simply put you cant prevent vibrations from happening and the suit material will always hit against the wearer, no matter how skintight it is) then it might work, but for the kind of punishment that iron man gets, like being hit with extreme force and sent flying usually plummeting to the ground at extreme speeds, hell naw, no suit will protect you against that, and it could even perfectly make matters worse, you'd be ricocheting inside the suit, even if its skintight, the metal AND the force from the fall and hit will be crashing against your body and you'd be dead in a second.
Tl;dr it could exist but it wouldn't be very smart to wear it.