The following is from a discussion on Halowaypoint.com that I replied to.

SitriStahl-“Well, that is until we get the new Hayabusa”

My response:

I have it on VERY good authority that there will NOT be Hayabusa armor in Halo 4. Besides that being a deal between Bungie and another game developer, IIRC, 343 has already stated as such that they are not for Hayabusa. I can understand that too as it harkens back to the previous developer.

Halo 4 is 343’s baby. They are making it their own. (as evidenced by the newly released armor perms) I’m hoping for something along the lines of Iron Man.

As far as being able to pick and choose between different parts of armor, I can see that. Helmet
Shoulders
Bicep
Forearm
Chest
Thighs
Knee/Lower legs
Boots

That’s a LOT to be able to customize. Though, with regards to those exclusive skins, you may not be able to use them with altered armor perms. I see those as only being able to use with specific armor sets rather than mish-mashes of armor.