I myself am a advocate of Magnesium and have Headshells between 8 - 10 Grammes produced from it.
I also have the same arm tube as the SME V on my SME IV, I bought this under the guise the Magnesium Cast Arm Tube will have been the better material than the Rega Cast Aluminium Arm Tube of which SME were copying.
Magnesium does have properties that are stronger and stiffer than Aluminium, but for myself I can not say that it is an audible property.
On a Budget Aluminium wins as it does not need to be coated to prevent corrosion where as Magnesium corrodes and needs a anti corrosive coating.
I've handled many many Magnesium Headshells and sold on plenty as the corrosion is lifting of the coating. I keep the pristine ones for myself and gifts to friends.
Interesting as well, last time checked anyways, how thpe Korf Blog has never tested a Magnesium Headshell against the Ceramic Design so well supported ?
me