The question is do you really want Mr Jacob to be Max Steel? You like it or not, Taylor Lautner could be Max Steel, if Paramount decides to cast him in its Max Steel film. No official words though. But LA Times reports that the studio is considering him as a teenage hero Max while SlashFilm has reported that he is indeed Max Steel.
Max Steel is a Mattel toy line which appeared in shops back in 1990 and featured an extreme sports athlete named Josh McGrath who is inadvertently exposed to nanobots. You can check the Wikipedia page for Max Steel.
JP Lavin and Chad Damiani are writing for the screenplay. The movie may be released in 2010. Max Steel will be another Paramount and Mattel turn-up following Transformers (raking in more than $1.6 billion worldwide for 2 movie features) and G.I. Joe.