That's a GM call. IF the GM handles it right, you'll get fear.
And Glacialis, i think you're going the completely wrong route. The more complex you make the rules, the less fun it will be. Feng Shui can handle somethign like Allomancy much better than D20, d6, GURPS, Tri-Stat, or Fuzion could. Frankly, The only other existing system I'd even consider would be Unknown Armies, but it doesn't really fit well either. The simpler and more story-telling oriented you make the players' roles, the better off you'll be.
I mention Feng Shui because of the scenery descriptions. "I nail him with a coin." instead of checking rules, you just make a difficulty (does he have a shield, is he or someone defending him also a coinpusher/puller, etc) and roll. It leaves a randomly determined result but leaves combat going fast. ANd for characters that can Pewter Drag, rapid combat will be essential for capturing the feel of something like Mistborn.
Creating allomancers is easy. You just have them choose the metal they burn as a Schtick. For a full Mistborn, you can start them off with more schticks to make up for it.
Actually, now that I think about it, the concept behind Nine Worlds would probably be ideal for it, if you have players who fancy themselves authors, anyway. If you have more passive players, Feng Shui would be better.