Yes, and I still cringe at the thought of what would have happened if the idiot Al Gore had been president at the time. Thank goodness he wasnt.
Scarlett Witch and Quicksilver are indeed Magneto's children. However, I think that 20th century fox owns even the rights to the word "mutant" and they wont be able to mention either. Fox owns the X-Men franchise rights now, and Sony owns the rights to Spiderman. It sucks, but Marvel was on the verge of going bankrupt at the time, and what saved them was selling the rights of those two franchises, if I am not mistaken.