Removable magnetic media? Wow, that brings me back to fond memories of high school...
What, VCR tapes?
The main problem with tape-based magnetic media is that it's so linear and doesn't generally lend itself to random access.
Floppies were more or less ok. At least the 3.5s... 5.25s were funny. I saw some similar 8" ones used with some old academic hardware, and it reminded me how old school the the 5.25s really were.
The last computer I bought that had a floppy was a powermac 7200/75, back in 1995 I think, although most of the ones they have given me at various jobs have had them. I think I may have had a zip drive at some point as well, but a VCR? Jeez, I don't know when I last used one of those.
I have a few movies I can't get (or can't be bothered) to get on DVD, including some video yearbook and taped high school plays maybe I should get transferred some day. Plus it's the poor man's Tivo...my neighbor asked me tape some presidential debates last fall.