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Yes, two mags will fit on the bottom, no problem. Honestly, I don't think you are going to find a better option as this is a real deal gun safe using 7 ga steel, a simplex mechanical lock that you can operate without looking at it, and the gun presented to you. Plus, the additional "in & out" lock provides extra security if you leave the gun in the vehicle. I've had a different model of the FAS-1 safe for about 10 years now and it has operated flawlessly.
Only if you removed the modular holster and then I think the base on this unit would be too wide to fit between the brackets that hold the holster in place. I've seen some other magnetic devices that are thinner and just might work. In my opinion the holster works great and there is no need for a substitute.
