Michilinie and Layton are regarded as the definitive creative team on Iron Man, but if Marvel won't rehire them back on the book, or complete Iron Man: The End as they envisioned, I doubt Marvel would allow them to work on an series of Iron Man novels.
I don't think they should write the main book. Their writing is too old school to fit with the rest of the Marvel books currently. And it wasn't The end that got messed with it's Iron Man Forever. But I think this is a good solution because they don't have to let them deal with current continuity or anything like that but is still giving the fan favorite team work.