Favreau's comment should probably be taken with a grain of salt, as he's not signed on as the director for Avengers, and certainly a lot can change between now and 2011 or so. It also wasn't too hard to guess the rest of the team already, considering who's famous enough for a film (no hard feelings, Living Lightning). The Ant-Man feature may seem like the biggest surprise, considering how relatively unknown the hero is, but Edgar Wright has been talking about his work on that feature for some time now.
Probably the best news from the story is that Favreau confirms he's on-board for the Iron Man sequel, since he wasn't locked into the project.
Related links:
Review: The Incredible Hulk
Review: Iron Man
News: Iron Man 2 to begin production soon, or maybe not
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