And they don't do anything for the aluminum and other metals that can get into the oil. It might help you collect some of the pieces after somehting blows up, but the filter is supposed to stop those too.
Consider if you will that there is already a magnet in your oil system, on the drain plug, and if your experience is the same as mine there is rarely much of anything on that magnet at oil change time, at least after the initial oil change on a new engine. If anyone thinks they really have that much iron and steel floating around in their oil, I'd suggest they get to a good mechanic right away and get that engine torn down and fixed.
Unlike some of the other products being hawked for Harley's, at least the magnet deal on the filter isn't going to hurt anything other than your wallet. As noted above, the filter already catches any big stuff, and a magnet doesn't do much with the aluminum and other nonmagnetic metals prevalent in a Harley engine anyway. Save your money. Or perhaps you could mount the magnet on the fuel line to precondition the fuel for a more efficient and powerful burn. I understand they also sell them in bracelets as a cure for arthritis. Personally, I use my magnets to hold stuff on the refrigerator or to retrieve those damned screws that always fall into dark holes.
Jerry