The magnetic strength of the lens cap and the filter works as expected!!! I wanted to focus on this aspect because of a few negative comments I read that gave me doubts initially. They said the magnetic strength of the cap is stronger than the polarizing filter, such that the filter comes off usually when taking off the cap (one comment even includes a video). Well, I still wanted to give it a try because my original mechanical lens cap does not click properly half of the time, and the convenience of having a magnetic lens cap is really a no-brainer. So, I tested the whole set up once I received the product. It actually works really well! If I grab the rim of the lens cap only, the lens cap came off easily and the filter is still attached nicely. And if I grad a bit more, with the rim of the filter, both the cap and the filter came off, which is exactly what you want when you don't need the filter. I think some of the previous complaints are probably due to individual product differences.
In terms of the polarizing filter itself, my initial test shows that it works nicely to reduce reflection from glass, water, and leaves.
Overall, it is a great product.