Originally Posted By: artificialist
I, too, wonder if all the stuff magnets catch would be simply be removed by the oil filter.
Oil filters let anything less than around 40 microns or so pass, so particles of iron that size could only get caught on a magnet, maybe a drain plug magnet. Since oil film thicknesses in the engine vary between zero and 100 microns, particles 40 microns or less can dig micro-trenches in internal metal.