UPDATE:
Instead of starting new topic, I am editing this one to suit new purpose. Don't think there is a point for me to open new topic each time I paint a miniature, so I'll be just posting my new Necrons here. Also I'll try to show few ideas I got for conversions and remodeling (not that they all worked...)
UPDATE 30.04.2012 - First batch of finished units :
http://www.dakkadakka.com/dakkaforum/posts/list/415095.page#4220083
UPDATE 22.02.2012 - Heavy Destroyer :
http://www.dakkadakka.com/dakkaforum/posts/list/415095.page#3948577
Here's the old post - the Magnet Lord Project is currently on hiatus - got more pressing issues, like painintg 1000pts for a tournament
I love working with magnets. Most of my vehicle weaponry is being magnetised (recent addition being Annihilation Barge's Gauss/Tesla Cannon). It solves
WYSiWYG issues - no need for aditional models that you never field together, and saves money

Also you can always clearly show-off weapon destroyed effect etc. But I bet I'm not the one who does this here, and you probably heard about this idea long time ago.
I'm a
WYSiWYG supporter (with respect to minor differences) and keep my models in line with roster. As soon as I realised I will often change Overlord's wargear depending on battle, I decided to try the application of magnet-held weaponry to infantry model as well

I bought very small magnets - 1mm x 3mm and here are first pics of the project:
All options
I would use (you might have different preferences though): Staff of Light / Warscythe / Hyperphase Sword and Rez Orb / empty offhand.
Close-up on joint replacement. I basically cut-off the whole round joint part to make space for 2 magnets.
Be sure you preserve natural angle in which hand is related to body!
Staff of Light
Warscythe (without base it pulls him forward, but when finished, I bet he can hold scythe properly..)
Hyperphase Sword & Rez Orb
If you wonder why I even bothered adding Hyperphase Sword here - I really use it

In small point games it's my "squad power weapon" in event I get assaulted and it works much better than Staff of Light which is no longer a power weapon...
I will post more pics as the work progress. Feel free to throw comments and suggestions at me along the way.
Hope you like the idea