[jdmccright]

I understand the dilemma you feel. It's a lot of work to get the pan off for such a simple piece. But remember that the magnet keeps all that 'sludge' you found on it from circulating around your tranny...tiny metallic particles can score valve body walls and pump internals when present in enough quantity. Plus if something were to happen catastrophically, the mag could help limit damge.Do you need to replace it right away? No, but I wouldn't wait very long...3-5k miles before the particulate concentration in the fluid gets too high.Just had a thought...stick a stronger magnet to the exterior of the pan until you can replace it. Radio Shack sells them in various shapes...may want to paint them to keep them from rusting since they are iron-based. Hope this helps!