I have one that I got from ECS, three oil changes so far, no problems. Looking about magnetic plugs all seem to be aluminum. I bet there has to be a break in the magnetic field between the magnet and the steel of the pan, otherwise debris won't stick only to the magnet. Using aluminum for a non-load bearing bolt shouldn't be a problem, but it certainly won't withstand over-torquing to the extent that steel will.
IMO the main benefit to a magnetic plug isn't debris removal, it's that you'll see debris on it, telling you that you've got a problem and you should get the engine checked out or sell the car post haste.
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