I think he could pull it off. No , he's not the fan image of Lex , but then again , imo he's what Lex would be in the reality of 2012 . A younger, ambitious , suave , corporate raider and not the older CEO of the comics and Lois and Clark.
Lex was always written as a child prodigy, so it's not hard to imagine a younger Lex being all that he is like the comics, opposed to being older.