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Emyr-
I've used reelight's previous products (which use magnets). I've been using a magnic light for a couple of months now instead.
There are issues with having your headlight positioned around the rim. The old reelights had a similar issue in that if they get knocked: you have to reposition them (and each time you do they losen etc).
It's promising technology though.
miro_o
Hmm, cool design concept but you are just replacing friction for electromagnetic drag
I also wonder how sensitive it is to distance from the rim - I suspect its going to be a square or cube law, someone who did decent level physics will know