Hello all:
FWIW, some time ago I ordered some rare-earth ring magnets from Lee Valley:
Lately I've been very annoyed with my el-cheapo-brand magnetic indicator base, but was unwilling to pay for a quality base. Over the weekend I found one of the ring magnets in its cup (once in the cup it will never come out...), reamed out the hole by hand for a few moments, and slid a 1/4 x 20 x 3/4" long FH screw through the hole. (Picking the shavings off the magnet gives a new definition to "fun.")
Unscrew the magnetic base from my old indicator holder, toss it in the trash. Saw off the stud that had screwed into the holder, drill and tap that rod for 1/4 x 20. Screw on the new rare-earth-magnet base.
It holds much better than the old base did, but just grab the rod and tilt it a bit, and the base comes unstuck from the lathe. As a bonus it's not as big and bulky as the old base was. The downside is that I still have to pick shavings off the base, but I can live with that. I'll just learn to machine only aluminum and plastic....
Best -- Terry