The first story features Alison Blaire, the Dazzler, in a story that takes place after the events of Dazzler 9-11, a story arc in which she was briefly the herald of Galactus, and fought former herald Terrax in a black hole.
In this story, Alison remains the herald of the world devourer, and manages to change his method of seeking out planets by touching him emotionally with her compassion. As ridiculous as that may sound in this day and age, 1982 was a much less 'dark' era in comics, everything didn't have to be as gritty and grim as it does now, so stories like this were enjoyable for what they were, alternate reality romps to be read for fun.
Dan Fingeroth and Mike Vosburg turn in a pretty decent Dazzler story here, as she heralds around the universe seeking out planets for Galactus to devour, before eventually being felled by an alien fleet, and returning to life to be released from her duty by Galactus. As she returns back to Earth though, centuries have passed, and apparently all life on the planet has been wiped out. This leads her to return back to Galactus to once again become his herald.
While the Dazzler story is okay, the Iron Man story I found to be much more enjoyable.
In this second story, Tony Stark is tricked by Dr. Doom, and stranded in the time of King Arthur. It is here that he must deal with the trials of fixing his damaged armor with limited resources, as well as defending the kingdom from invaders and the magic of Morganna LeFay.
This story is a fun period piece that places the iron Avenger in an environment that extends him beyond his normal capabilities, and even touches on his famous alcoholism problem first addressed in the now-famous, "Demon in a Bottle" issue of Iron Man.
The art by Don Perlin and Bob Layton is timelessly classic Iron Man, particularly because Bob Layton would go on to be one of the greatest Iron Man artists to ever work on the character. If you're a fan Bronze/Copper Age art, you will really like what is delivered by Perlin and Layton here.
Overall, this is a pretty great issue of What If, particularly because I'm a Dazzler fan, so the weaker of the two stories still appealed to me on more of a fan level. I'd recommend you go back through your long boxes and dig this one out, it's a fun read.