Here's a question:

If Pharaoh got web in his eyes, would he still be able to shoot a figure occupying the same square as the Golden Falcon?

Sorry to muddy the waters, but I'm just curious.

From the Rulebook, pg 11, Ranged combat:

If the range value is greater than 0 and your character is not adjacent to an opposing character, then your character can make a ranged combat attack.

So, no Range 0 attacks are allowed.

Can you occupy the same square as the Falcon? We've always played it as you can't.

I don't see anything in the description of the Falcon special terrain marker that would indicate that a character cannot occupy the same square. It is not a character and it is not blocking terrain, so you should be good to go.

So, if an opposing character was adjacent or on top of the Falcon marker, would Iron Pharaoh have to make a close combat attack against the opposing character? Or, is it still ranged (similar to Lightning Lad and Electro because the opposing character is not actually adjacent to Iron Pharaoh)?

Still a ranged attack.

Well, that makes sense i guess
Thanks to everyone