Inspired by Jeff Wisnia's suggestion to try dropping a magnet through a copper pipe. (which makes the magnet fall very slowly due to dissipation of gravitational energy in the pipe by means of induced currents).
I am very curious to explore this stuff a little further. Let's say that I take a cylindrical magnet, orient it so that the poles rotate around the axis of rotation, like this:
! N===!===S ! !
(N and S are poles, ! are axis of rotation)
put this inside a copper tube so that tha axis of rotation coincides with the axis of the tube and spin.
I may be visualizing this wrongly, but I think that it would also induce currents in the tube. So after a while it could become very warm. Should be easy to reproduce with a drill press.
i