Step 1: The Magnet
This is the magnet. I wish I had a "before" pic. The magnet it a double ring type, with a metal core. There is a ferrous metal disk attached to the top, which was rather annoying because it was larger in diameter than the magnet, itelf. Originally, it had a urine-yellow and very bumpy surface to it. I used a dremel tool and carbide cutter to mill away parts of the surrounding lip, so that the tools can lay flat around the circumference of the magnet. Noticing the nice brushed steel look where I cut, I decided to resurface the top of the magnet, too. I used the carbide tip to roughly remove the protruding center piece that used to be on the magnet, as well as the four pins that were slightly raised. (You can see a few tool marks where I cut too deep). Then I smoothed it by rubbing it over 200 grit sandpaper over a pane of glass. It looked so good, I decided I had to trash the hotmelt glued flyswatter handle contraption that I had hitherto used as a mount. Something else sprang to mind. Now if I could just find it...
Step 2: The Stand
Step 3: Fini
Again, sorry for the lack of detailed instructions. I hope this at least gives some ideas to my fellow aimless tinkerers out there.