"Experiments" like this are really just about feeding your inner 10-year-old's desire to set things on fire and gawk at the results. I know it. You know it. But that knowledge doesn't make the inferno any less entertaining. And if we have to justify things by adding in a brief discussion about the interaction of oxygen and iron, so be it.
Maggie Koerth-Baker is the science editor at BoingBoing.net. She writes a monthly column for The New York Times Magazine and is the author of Before the Lights Go Out, a book about electricity, infrastructure, and the future of energy. You can find Maggie on Twitter and Facebook.