I must disagree, Magneto as a gray character is more interesting and complex, then Magneto as a evil caricature. Ultimate Magneto comes off as being as complex as the villain from a bad action movie, he is just another boring, one dimensional, racist psychopath. He does nasty things for seemly no reason, killing the Animal evolutionaries and wishing that his wife has died in child birth. I mean when Quicksilver joins the Ultimates and Magneto blows his knee caps off, is there any reason given for his extreme response, besides the fact that he is evil. Personally I think the gray area Magneto is more realistic and interesting than Ultimate Magneto.