The Magnificent Bastard is intelligent, capable, supremely competent, and always in control. He can be playing everyone from both ends, or making it up as he goes along with such consummate skill he gets away with it. He might be cynically exploiting all around him for his own ends, or persuading everyone to do everything for him. He might be a lying sneaky bastard playing everyone for his own selfish ends, but he goes about it with such breathtaking skill and panache you admire him for it. Above all else, what defines a Magnificent Bastard is his ability to evoke not just amazement, but grudging admiration, from friend, foe and audience alike.
MB's are often but not always recognized for thier taste for and indulge in luxurys such as beautiful women, cars, cigars, jewlery etc.
MB: I know. Too bad you'll never know what it's like.