I've been a M:tG player for about 9 years now and a DnD player only since 3.0 came out. I'm a far bigger fan of Magic, which according to my count, puts me in the minority.
IMHO, Magic and DnD would not work well together. Apart from the aforementioned spell-colouring, the true powers from M:tG would hardly even be covered by the Epic Handbook, much less be useable by a level 1 mage. The closest thing to WoG ("Wrath of God: Destroy all creatures in play, they can't be regenerated"--one of the better spells from game) is an epic spell. In M:tG, its castable on turn 4, or really turn 2 if you know what you're doing--I doubt that the epic spell is as remotely useable (When cast, it deals something like 280d6 to you, which is a pretty stiff penalty). Sure there's Lightning Bolt, a spell that perfectly translates, as well as fireball, but both of those can be cast on turns 1 or 2. At what level do you gain those spells in DnD?
So forth and so on, ad infinum, ad nauseum. Like I said, I just dont' think it works well.
Sincerely yours,
Sparxmith
Anyway, there's my 2 pence worth. Didn't really say much, but what the hell. It's Halloween.