Supercalafragaliquid

Can it be used to create a T-1000 Terminator one day, that's what I really want to know.

The C5 Corvettes used it in a special option shock absorber setup. I think the Cadillac XLR did too. If your vette didnt come with the MR shocks, you could special order them from GM goodwrench and retrofit your car (though it wasnt very cheap!).

I wonder if used in a machine as a working fluid (since MR fluid is mostly oil maybe hydraulics?) if the viscosity could be regulated by magnetic fields almost to create virtual valving where flow must be regulated within the machine.

Perhaps in a strong enough magnetic field the MR fluid could be used to clamp irregular parts with delicate surfaces, as it would conform to the whole surface of the part. Or maybe if used on non magnetic parts, it can be used to make quick, cheap molds to cast parts in plaster or resin.

"Manetorheological"

Is there a "g" missing from that???

How about making a perpetual motion wheel with the liquid inside and a fixed magnet outside pulling it ?

I'll give you my address where to send the billion dollar check....