Okay, I'm going to post this here in case others want to help/expand on this idea. I like AoS and I like WFB and I want to be able to use my orcs/orruks for both... so... an experiment.
This is a scrapbook punch (30mm to fit the top of a 32mm round base), alongside my (now broken - I'll explain) 25mm punch:
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To this, we add: 25mm MDF bases/discs, and the key to the whole thing... Iron Foil. Yes, IRON foil, like aluminum, but - this is key - magnetic!
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Take a 32mm round base, cut a piece of iron foil (don't use the scrapbook punch for this - it might be foil, but you'll still destroy the punch - I finally had to use a hobby knife), glue foil to base with superglue:
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Take mdf base, drill holes, glue magnets in holes:
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end result........ meh? The foil is plenty magnetic, but I think my magnets are too small, so back to the drawing board?
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The idea behind the scrapbook punches (32mm and 25mm) was to make rings out of thin cork or cardboard or something to help keep the mdf centered on the bases and provide a place to put basing materials (and help hold the iron foil down as well)...