I use magnets by the bazillion.
I drill 1/8" blind hole in the end of an automatic pencil or just plain old wood pencil. I put my hand under the DP table and the magnet keeps a pencil there.
I have eight magnets on the DP.
1 holds a probe
2 holds a steel scale (actually there are 2 small ones holding the scale for quick measurements)
3 holds my chuck key on the end of the "raise it and lower it" mechanism so the key is always in the same place. Theoretically that is the only place that the chuck key can be placed.
4 Holds an Allen wrench that I use there
5 One with a hook holds my column lever extender (so I can loosen the column mechanism after Glenn Gorillas it tight)
6 holds a toothbrush (for cleaning threads, Forstner bits, etc.)
7 holds an old terrycloth wash cloth---this allows me to clean the flutes of a twist drill in one swipe
8 holds a pencil under the table (that is the only place that pencil can be put down)
9 I forgot about this one. It holds a drill press speed chart.
The TS has magnets also:
1 holds a measuring tape
2 holds the blade holder that is used when changing blades.
3 holds hold downs for the work bench that is right behind the TS.
4 holds the Biesemeyer fence locking lever up when the fence is not in use. Just the weight of the lever locks the fence if it is down.
There are magnets on the bandsaws, the lathe, the sanders, etc., etc. You get the idea. Use your imagination to solve your own particular problems.
I use magnets from 1/8" diameter through 1" in diameter depending on what strength is needed. I find 3/8th and 1/2 serve most of my purposes.
Oh yes, I use magnets to keep blast gates open or closed---you know the ones that drift one way or another because of gravity. A small magnet keeps the gate where I want it.
First of all you have to be smarter than the machine.