After reading a brief thematic synopsis on Wikipedia, I might just check it out! Fantasy normally doesn't do a lot for me, but it would appear that there is a lot to that book... even without the 200+ footnotes! :P
I do. It's fantasy written in an older style (with footnotes, even) as though it were a piece of fiction out of Jane Austen's time, and it's been a winner with everyone I know who's read it. Which is generally only people who have similar-ish tastes to me, but still.
Have you read Jonathan Strange & Mr Norrell? It also deals with magicians and it certainly in the for-adults age range. Your description of The Magicians gives me a similar vibe.
All I remember about Cloud Altas was a drunk man standing outside someone's home so I have no idea how a movie is going to come from that either, but I'm going to keep an eye (or ear) out for news on the movie when it comes out.