Yeah. I doubt if it will ever actually put out that much voltage.
I did a little experiment tonight.
I bought a tiny neodymium magnet (it conveniently fits in between the housing and pull start bell). I took off the coil I made and used it as a testing platform. I wanted to see how well this micro rare earth magnet stacked up against the magneto magnet. I placed a thin piece of smooth plastic between the coil and magnet, so I could simulate the same constant air gap. I rubbed the neodymium magnet first, as fast as I could. I went until I was pooped! I got (drum rolllllll) 0.06VAC. Well, OK then. Maybe it's just that I can't move my hand that fast? So off comes the magneto magnet, and on to the test platform. I was wondering if since my arm was tied that maybe I couldn't scrub fast enough this go around, and that this one would show less. Nope. I got 0.6VAC. That's 10X the voltage of the neodymium magnet (with supposedly a higher flux density and range!
So... I am back at the drawing board again. I still want to try and make something work, but I need some super magnets that are about 1/4" diameter. Ones that can fling their flux all over the place.