If I take a two dimensional image and conduct a fourier transform on it, I would get a two dimensional matrix of complex values. If I want to find the amplitude of each value, is that the same as calculating the magnitude of each component, ie Mag(re,im) = sqrt(re^2+im^2)?
I don't see the question here.
But you're right.
On the DFT map of the image, the magnitude / amplitude, etc. are powers of the length of the vector of the complex number.
On more useful visualization to help working with large Dynamic Range is using the log(1 + abs()) on the DFT.