For anyone interested, this solution works like a champ.
I found that by varying the depth of the hole in the bottom of the CP you can change the area of sensitivity on the top of the panel.
I've set the depth to make the activation area about the size of a quarter.
I've also discovered that because of the smoked glass in front of the monitor I can't get the magnet close enough to cause any discoloration.
Seems like a winner.
I'm about to get started on Control Panel Rev. 2 to replace my old (1 1/2 years or so) panel and I'll use this system in that project.
My current thinking is to replace the P1 & P2 coin buttons, mounted in the obvious spot, and add some really hidden admin keys.
Oh, and the ever popular "O" and "K" keys

I'll get some pics posted once I get 'em mounted up good (if anyone cares).