Yeah I agree that this could be pretty bad.
Emma Frost is supposed to be in the movie but she wasn't part of the first class. Based on the title I was under the impression that it would be Beast,Iceman,Angel,Cyclops and Jean (Marvel Girl)
Why can't Hollywood ever stick to the story? Nerds like me get pissed. LOL
This is link that I found. It hints that Kevin Bacon could be playing Mr Sinister. That could be weird.
But, it's X Men so I will go see it anyway even though I think you may be right. This could suck.
http://www.spinoffonline.com/2010/07/09/kevin-bacon-offered-role-of-x-men-villain/