Yeah, we're not likely to actually get a Makelele clone but Sanchez is a good approximation.
That's pretty much the basics of what the role Makelele played was IMO. He was always calm in possession and good at organising too, as well as reading the play as Ash says.
Sanchez looks very calm on the ball to me, it's only the reading and organising that he might be missing. Okay they're pretty key aspects but Vlaar/Senderos can help with the organising and we can all just hope he's a great reader of the game.