[UPDATE: A new trailer has just been unveiled. I haven’t watched it, so no comment, but it’s embedded below.]

At last night’s AMPAS tribute evening to Vanessa Redgrave (which I attended, and will write up in due course), the “Coriolanus” star was self-evidently the center of attention, but high-spirited, red-clad guest speaker Meryl Streep ran her close. The 16-time Oscar nominee is in London to begin the promotion trail for “The Iron Lady,” which quietly began screening last week; whispers from the few who have seen it were being passed around the room as if they were MI5 files. I heard one “transformative,” one “frightening” and one “high camp” — the latter was applied as a compliment, by the way.

In a handy bit of timing, Film4 debuted this positively terrifying UK poster for the Margaret Thatcher biopic this morning, which certainly suggests marketers are approaching the project with a welcome sense of humor. My dream outcome for “The Iron Lady” is for it the pull the rug out from under us completely by emerging as some kind of burlesque political satire; I sense we’re not going that far, but I do hope Streep’s having fun. Check out the full poster after the jump.