The work of J. F. Woodward (1990; 1996a; 1996b; 1998; 2002a; 2002b; 2004) on the existence of “mass fluctuations” and their use in exotic propulsion schemes was examined for possible application in improving space flight propulsion and power generation. Woodward examined Einstein’s General Relativity Theory (GRT) and assumed that if the strong Machian interpretation of GRT as well as gravitational / inertia like Wheeler‐Feynman radiation reaction forces hold, then when an elementary particle is accelerated through a potential gradient, its rest mass should fluctuate around its mean value during its acceleration. Woodward also used GRT to clarify the precise experimental conditions necessary for observing and exploiting these mass fluctuations or “Woodward effect” (W‐E). Later, in collaboration with his ex‐graduate student T. Mahood, they also pushed the experimental verification boundaries of these proposals. If these purported mass fluctuations occur as Woodward claims, and his assumption that gravity and inertia are both byproducts of the same GRT based phenomenon per Mach’s Principle is correct, then many innovative applications such as propellantless propulsion and gravitational exotic matter generators may be feasible. This paper examines the reality of mass fluctuations and the feasibility of using the W‐E to design propellantless propulsion devices in the near to mid‐term future. The latest experimental results, utilizing MHD‐like force rectification systems, will also be presented. © 2004 American Institute of Physics