Its Official: Michael Fassbender to play Magneto in X-Men: First Class

According to Heat Vision Blog, Michael Fassbender has signed on the dotted line and has officially joined X-Men: First Class as the X-Men's arch-nemesis Magneto. He had also been courted as playing a villain in the Spider-Man movie relaunch.

Fassbender will join the previously announced James McAvoy as Professor Charles Xavier, and Benjamin Walker in the role of Beast.
[Heat Vision Blog]

Michael Fassbender has gotten his big break in the recent Quentin Tarentino movie Inglorious Basterds, and he has shown that he can be quite charismatic. My question is could he be as good a Magneto as Sir Ian McKellen, or could he be even better?