Looking through the flickr group, Inspiration Boards, I was inspired by kitty80's board, which she created by painting her walls with magnetic paint and covering them with a beautiful wallpaper that is printed with ornate frame outlines. The magnetic paint allows her to hang her inspirations with magnets without damaging the wallpaper.
To no avail, I searched high and low for her wallpaper. I did find a similar paper by Graham & Brown called Frames ($40/double roll), designed by artists Taylor and Wood, and also The Family ($230/roll) by Lisa Bengtsson. These wallpapers are very interactive, allowing you to paint directly on them, or hang up inspirations or your own artwork. They also very much resemble the Deborah Bowness wallpapers I posted about recently.
For additional info. on this project, read more
I also found a great thread on Apartment Therapy about magnetic paint, that answered many of my questions. I learned that you can magnetize your walls with about three coats of magnetic paint or magnetic primer (which are not actually magnetic, but just metallic), which will do the trick to hold up your inspirations with whatever magnets you choose. I suggest using Mighties, ultra strong Neodymium magnets that are tiny and nondescript.
If you're going to wallpaper your walls with a frames printed wallpaper or another, you can just use the magnetic primer. If not, and you want charcoal/black walls, you can use the magnetic paint. Otherwise, use the primer and then paint with your regular paint color. The paint leaves a textured finish, so if are not covering up your walls with wallpaper, you should sand the walls after the paint dries and before you paint a color.
Whether or not you choose to create a frame outlined inspiration board, magnetic paint is a great product and I encourage you all to try it!