I think Sinister is dead which is why he couldn't be used, but what is going on with Magneto these days? Honestly, I haven't read any X books since Messiah Complex since they have sucked royally, or so I hear.
The Magneto situation is a mess. He has his powers back but they are artificial, given to him by a suit created by the High Evolutionary.
I have pretty much dropped all X-Men titles since Messiah Complex. The only thing that interests me is the Shi'ar situation.