I actually had the same thought about Jalabhar, that perhaps he may play a bigger role later. Though what that role could be is anyone's guess. (insert next crazy theory here)
After seeing Iron Man, my husband told me the same thing, that his character later becomes the suit wearer in some capacity. (He also did not read comic books forever so wasn't completely sure about that). Although I rather liked Terrence in that role.
Unfortunately I am not well spoken with comic books characters. I have never actually read one (that I can remember anyways), so I'm embarrassed to say I had never heard of The Black Panther.
But after a Google search and a little Wikipedia info, I would say Hounsou could play that character. Although I almost hope they don't do it, I am getting a little tired of all the comic book movies that have come out lately. I am looking forward to the next Batman, but that's about it. Although I did enjoy Iron Man, much more than I thought I would.