2. Charles Dance
While more famous for his current role as Tywin Lannister on Game of Thrones, Charles Dance has made a habit of appearing in small, albeit memorable, roles in motion pictures. Arnold Schwarzenegger's The Last Action Hero is a fairly unmemorable film, but Dance brings a perfect dash of class and arrogance to the villain that almost makes him transcend the movie he's acting in.
What Sort of Villain Would he Be? A simpler choice, Charles Dance would be perfectly fitted to portraying a Machiavellian Military Officer/Politician, recalling Peter Cushing's thoroughly underrated turn as Grand Moff Tarkin in the original Star Wars. (To the hardcore Star Wars fans among the readers: imagine this guy as an Admiral Thrawn type character. Would that not be brilliant?) And if Game of Thrones is any indicator, no one schemes better than this classy british man, and classy british men make great villains. (Alternate Choice:
Wayne Pygram - He was technically disqualified from this list due to his cameo as Tarkin in Star Wars Episode III, but if you look at his other performances - specifically in the TV series Farscape - you'll see that he is also a talented enough actor to succeed Cushing in the scheming role)