NOTE: I recently posed this question to Wizards Customer Support, and thought I'd share with the community. This came up when the offline Character Builder appeared to be mishandling the AC bonus of Iron Parry, and I found the verbiage of the feat to be mildly confusing.
Iron Parry grants a +1 to AC under the following condition (quoted from D&DI Compendium):
"When you are wielding a weapon (other than your monk unarmed strike), wearing cloth armor or no armor, and not using a shield"
However, "other than your monk unarmed strike" seems to be sort of confusing. Is it meant to be exclusive, meaning you cannot wield your monk unarmed strike at all? Or is it inclusive, meaning that you must at least wield something other than monk unarmed strike in one hand - but you can still have monk unarmed strike in the other hand?