Yeah, I have recently been experimenting in the fun world of thermite. Bought some aluminum powder and iron oxide on the internet (not as fun as making it all, i know, but i didn't feel like taking a month to make enough rust; tried that before, was a wee bit too frustrating... ). I used magnesium ribbon to light it, and i could get the thermite to light on the first try, every time. I put a piece of solid steel along with the mixture and in about 15 seconds it was liquified. Amazing stuff, that thermite.
I have also heard that Fe3O4 was a more stable replacement to the Fe2O3 commonly used in the thermite reaction; it also seems like a more practical solution as it is more easily obtained (in my opinion). However, I have also heard reports of it actually burning hotter than rust thermite. Chemically, does that make sense? Would more energy be released with the splitting of more elements in the compound? I must admite my knowledge of chemistry is somewhat minimal, I plan on taking it this year in high school and going for the AP class senior year. It all just fascinates me. Well, anyways, I am planning on heading out to lake michigan tomorrow, so i'll bring some powerful magnets and see if i can pick myself up a coupla pounds of magnetite. I'll post again in a coupla days with the results of my venture.