Oil Magnets - NOT Voodo "Science"

Hi Boys & Girls!

I recently bought an ION 3. It has a cartridge oil filter, which provides
access to where the oil flows. To replace the filter, remove a cap that
screws into the engine block, remove the cartridge (which is like the inner
filter element in a spin-on filter) and put a new one in. Then, torque the
cap down to 25 Newton Meters of torque (about 18.5 Foot Pounds, or 222 Inch
Pounds).  There is a fair amount of room around the outside of the
cartridge, plenty of room to put a magnet (or two, or three, or...).

I've done a little research - you can buy Samarium Cobalt magnets. They're
strong little suckers, and they can operate up to at least 250 degrees
Centigrade (482 Fahrenheit, hotter than oil functions).  They are also
inherently corrosion resistant.

(These are not the Neodymium magnets - they're only good up to 80 degrees C,
or 176 Fahrenheit, which not hot enough for engine use).

I figure that putting one of these magnets in the oil filter area will
permit it to grab out tiny magnetic filings that are the result of engine
wear. This should help prevent them from circulating and improve the quality
of the oil.  Then, at every oil change, simply remove the magnet, wipe it
clean, and put it back.

Also, the room is on the OUTSIDE of the cartridge, so after passing by the
magnet, the oil immediately gets filtered before going on to the rest of the
engine. I figure that this means if there is any damage to the magnet, and
small pieces of magnet break loose, they will be immediately captured by the
filter. So, I think it's pretty safe to do this.

Do you have any comments about this? Are there potential risks that I'm not
aware of? Is it safe? Will it be effective?

I know that Saturn uses ceramic ring magnets with their spin on transmission
filters, so there is some precedent. I also know that the dealerships remove
these magnets when they change the transmission fluid and filter.

And, there are lots of magnets that are sold to be attached to the OUTSIDE
of a spin-on oil filter. These tend to be the weaker ceramic magnets.

So, how about it. Any thoughts on actually putting a strong,
high-temperature, corrosion-resistant magnet IN the oil flow to pull out
magnetic filings?

Thanks!