Magnetometers

Hey, I'm looking into getting a magnetometer for a quadrotor I'm building. I am in need of some advice, though. For instance, I would like to read data from it using the analogRead() command, since it can in theory be used at 10,000Hz. I would like to stay away from serial communication, if at all possible, since it seems slower (if I am mistaken, please tell me!!!). However, all the IMU's I've seen thus far have used serial communication. I need data updated at around 50Hz ideally. So, can anyone please inform me about the serial communication speed and ideal magnetometers or IMU's? Thanks

For instance, I would like to read data from it using the analogRead() command, since it can in theory be used at 10,000Hz

If your vehicle is turning at a rate that requires updates from a compass every 100us, then any magnetometer you can afford is not going to cut it.