I realize that what works for Person A may or may not work for Person B or C, that said, I've never had a magnetic light that worked with a crap. Constantly moving from vibrations or the slightest bump.
The other thing I hate about magnets on the machine tools is the swarf, attracted to the base and surrounded area. I do use dial indicators with magnetic bases, but they don't remain on the machine during use.
One of the guys I work with, has magnetic strips on the lathe back splash, that holds all of his AXA block, over time all of them have become magnetized, you are constantly wiping swarf and fine dust off the blocks before you can use them. To me the only time I want to use anything magnetic, around any of my tools, is the magnetic vise on the surface grinder.