Magneto definitely ranks as one of the most fascinating characters in the "X-Men" universe. Because of his ability to manipulate magnetism, not only can he use metal objects--he can control them totally. He has used this talent effectively on more than one occasion, with fearful consequences.
However, wonderful as his abilities are, they are not quite up to the Ome--No--no, that's something else entirely. Omega-level mutants, as the name suggests, form the ultimate echelon of mutant kind. They have the possibility of changing reality radically on a grand scale. As powerful as he may be, however, Magneto does not quite fit into that category.