It almost sounds too good to be true, right?
The story behind "X-Men Origins: Magneto" is Eric Lesherr's journey from boy to mutant, and, mutant to Magneto. The original plot line takes place in 1939, and depicts the story of Eric attempting to survive Auschwitz, a Nazi death camp in WWII. Supposedly when the camp is freed, Eric meets a young Charles Xavier, one of the soldiers who liberates the camp. As they escape, Eric uses his powers to seek vengeance upon Nazi soldiers, but loses Charles as an ally in the process.
The story has been bumped around, originally scheduled for a 2009 release, but due to the epic writers strike in 2007-2008, got pushed back. Meanwhile the Wolverine movie began filming in June 2008, while Magneto was put on the back burner, waiting for permission to film in Washington D.C.
The movie at this time is nothing more then a script, supposedly changed to a story of Eric and Charles battling a single villain together.
In 2006 Ian Mckellan, who played Magneto in the first three X-Men movies, stated he would be in the film, but as a narrator rather than play the character. The movie will consist of flashbacks.
The movie has a release date in 2011.