What Ron Said!
If you run magnets on the heads or in the pan, make damn sure they are fastened down and can't get into moving parts.
All I do is run is magnets epoxied in by the REAR oil drainback holes in the head, and a magnetic drainplug.
If you load those up anyway....theres a serious problem deserving a teardown....
What your trying to catch is small wear or chip particles....alot of the wear particles are non-magnetic, ie, alum. and babbitt....and thats what the filters gonna grab and trap anyway....
The magnets are just to keep the big crap from being ground up and getting caught in something else.
Magnets in the oilfilter or on the oil filter is, well, in my opinion, another form of snakeoil.
If you have any supersmall particles caught in the 50 to 100 PSI stream racing down the internal passages of the block, it hits the filter, its gonna be stopped....a small magnet ain't gonna do jack for that particle....
If you wanna stop junk from getting into the oil sump, and do something creative and useful, epoxy some small screens into your heads oil drainback holes, do as Ron said, make all your oil be filtered by disabling the filter bypass....Then epoxy a screen in your lifter valley, so stray giblets can't get caught up in the rods during dainback.
If your running stud girdles, roller rockers, guideplates, magnets of the head studs/bolts are good. If you like to be safe, they will catch all kinds of crap, ie, chips off steel rocker arms, pieces of spring, all kinds of crap. That, along with the screens is a good safety net....
If your quick on the switch when you HEAR/SEE a problem....those screens can save the rods, possibly a crank....