1. Magnet spinning / conductor stationary
This generates no EMF from axis to periphery of conducting disk. No surprises.
2. Magnet stationary / conductor spinning
This generates EMF, and corresponds to school text-book physics. Again, no surprises.
3. Magnet and conductor spinning
This also generates EMF. I only came across a reference to this a few years ago and, until I see it with my own eyes, I remain sceptical. However, there are plenty of Web sites that refer to this phenomena. I will put some more links in later.
Purdue University Department of Physics reference
Assuming that (item 3) is correct, I have developed some ideas that might demonstrate some strange results.
Alternative Faraday disk based rotor
Thought experiments used for a discussion in Google groups sci/physics/elecromag: