Clem, did they have taller magnets at Hobby Lobby? They just opened a store here in Virginia Beach but I haven't gone yet, this may be a good reason/excuse!
Gargraves/Ross track appears to measure about 12mm (almost 1/2") high from top of rail to bottom of tie. I'm still using it even though I've removed the middle rail. I would think a magnet the same height as the tie would work well and not look out of place.
OMG...1/2" is 2 SCALE FEET!!!!! I can just imagine what that would look like in real life, double what it should be I guess.
I propose us modelers have it right and the real RRs have it wrong . Just think, more clearance under a train may prevent folks from getting run over or make maintenance easier