I had one, none of my watches got magnetised and I would sometimes leave my ipad on top of my sealed watch box.
As a keyboard I really liked it, but it broke in the end and I was unsure if it was the connection area that was broken some moved on to a brydge. The brydge is a great keyboard but heavy and there is the Bluetooth lag which you will not get with the magic keyboards.
Do the newer magic keyboards have a trackpad? As I know there are third party keyboards for ipad that do
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