Nice geon, please create a thread and post more info about your idea! You are very talented. Do you have a project section to post your threads? I guess we can create one for you.
I would like to reintroduce the concept of magnets and cores... i was looking into a tesla patent and i found him using the same idea, but he uses it to create a kind of rectifier using magnets and saturable core.
Basically in the current is going to be favored in one sense in respect to the other. Since the magnet is saturating the core the core it can't saturate more if the current is applied in one direction but in the other direction the field can be reduced in the core thereto restricting the amps...