I have one and absolutely swear by it. It is not pyschological either, becasue I purchased it from a local store with the mindset that it would not work and I'd return it within a day or two. Within 24hrs the pain in my shoulder was noticeably better and continued to hurt much less over time. ... BTW, it is ionized not magnetized.

Just because there isn't medical research or studies to support the benefits of something doesn't mean that it is not going to work.