To a 1962 audience (and at Magneto's original inception, I think) his being Jewish would've been HIGHLY marked. To a 2011 one I think it's less so, but still not entirely unmarked either -- he's definitely a cultural/ethnic minority, anyway, if not a racial one. The Holocaust angle gives him an extra fifty sympathy points in that regard, which makes Charles even more privileged and presumptuous to tell him not to be so angry and vengeful, reall -- something that would've bothered me more had Charles not turned out to be naive and totally wrong in the end, I think. The X-Men franchise in general validates Professor X's worldview over Magneto's, but I'm not sure this movie did.