The left frame of the Smart Cover contains a total of six magnets -- two large and four smaller units.
We just can't keep these things off of one another! The iPad 2's frame magnets made a solid two inch leap across the table by the time we took the shot. Their attraction for one another is amazing!
Notice the complementary shape and polarity. These magnet arrays are specifically designed to attach to only one other array, making it quite difficult to attach the Smart Cover improperly (upside down, offset by a couple of inches, etc.).