Yeah the one in the pic above is from an old-school mag scraper. If you've been around long enough, you remember the ones that had magnets in a plastic tub that slid into a housing, then you took one of those double-sided razor blades and snapped it in half and put one on each side of one of the tubs, so that the blades were perpendicular to the glass? That's what this one came out of. I don't know if a magfloat would be that much better
This one has to get within about 1" of the blade to attract it. So far, I've stuck it everywhere in the tank I could get to. It must have slipped in a crack or under one of the base rocks.
I think a magfloat I would not be able to get into the nooks and crannies like I can with this one anyways...