Magnetic levitation is seriously being considered as a method of supporting high-speed guided vehicles. In this article we review the present status of magnetically levitated trains with particular emphasis on the use of superconducting magnets. We present the basic theory for the lift and drag forces of a magnetically levitated vehicle riding over a conducting sheet guideway. To obtain experimental results we have designed and constructed a superconducting magnetically levitated merry-go-round on a laboratory scale. This simple apparatus permits observation of all the principal characteristics of a much larger magnetically levitated vehicle. The “train” consists of six fixed, alternately positively and negatively oriented, superconducting solenoids held in a 2-in diam liquid helium dewar and suspended above a rotating dish track. A simple pan balance measures the levitation force which in this experimental geometry is downward. The track is driven by a small dc motor through a thin-walled stainless steel shaft and pulley. The electrical power into the dc motor gives a measurement of the drag force. The sample disk tracks are threaded onto the end of the steel shaft, allowing the quick interchange of track samples to test different track configurations. Stanford students in the Advanced Applied Physics Laboratory designed and built the apparatus for this highly successful experiment of current interest.