Peter awakens next to Mary Jane, hearing a voice. He and Mary Jane see that its Tony Stark's voice coming from the eagle statue in their room. Through the speaker he tells Peter that he wants to see him in the lab. Tony reveals to Peter that he's making the final slight modifications to his new uniform, considering Peter's old one was "just cloth." Stark elaborates on some of these enhancements including Mesh Webbing that allows for gliding, bullet-proof & heat resistant Kevlar and an emergency scanner.
Amazing Spider-Man Vol 1 529 page 05An Explanation for the Fans
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The suit is now ready to go but before taking it for a spin Peter inquires Tony as to how Mary Jane's arm was healed so quickly, seeing as it was broken yesterday. Just after it was broken the bone was reset and Tony injected a compound around the break to stop the swelling, and a secondary layer of flesh tone hid the injury (Tony states that due to his career, such a process is standard procedure.)

An hour later two armed criminals with a hostage attempt to escape the police. The tattooed thug says to the other (Jimmy) that once they get in the tunnel to waste the hostage as she's a witness, end of problem. Jimmy however thinks not as he sees Spider-Man sporting his new Iron Spider Armor. The tattooed thug assures Jimmy not to worry as the way travels is by swinging from things, and there's nothing to swing from, and that Spider-Man can't fly.

Peter dives, open his arms and glides using the suit's mesh webbing, appearing as if he's flying. Spidey gets on top of their car, and using his new lenses sees the pair's body heat through thermal vision, subsequently hearing the police on his emergency scanner repeat that there are units on 59th Street. Spidey shoots webs at the steering wheel, and directs them towards the police. The tattooed thug tries to fire at the cops but Spider-Man simply webs the gun aside.

Jimmy surrenders peacefully, and Spider-Man takes the hostage out of the trunk. The tattooed thug blames Spidey for all of it, quickly takes Jimmy's gun and fires. Peter doesn't have time to get the girl clear and takes the bullet directly to his back. To the tattooed thug's surprise Spider-Man is unharmed, and the police warn him not to agitate Spidey as he's already supposed to be dead.

Later on that night Peter goes to Tony asking what his underlying motive is, and he reveals that he wants Peter to be his right hand man in the coming conflict. Peter agrees and Tony tells him to pack his bags because they're going to Washington.