Looking at Patent 5,929,732 - from Lockheed Martin,

Apparatus and Method for Amplifying a Magnetic Beam

Below are the magnetic photos showing the device as constructed according to the patent. My first impression by looking at the photos, is that the device does not "make" a center "beam" as the patent portrays. It actually just squeezes the center magnetic field to elongate it somewhat. Secondly, when the patent mentions that it will pickup metal at a further distance away, it is rather easy to see why, in the the magnetic field now includes 5 magnets vs. only one, and the magnetic field has a further reach and is stronger than just one magnet.

Here the "beam would extend to the right. You can see the magnet arrangement according to the patent.	Here the beam would be directed towards you. Notice how far out the field lines extend due to the outside magnets.	Here, were looking at the back, the beam would be going away from you.

Due the the wide field of the outside magnets, there is very little actual power or no noticeable "beam" in the center.