The air inside the motor is not still, it is in a forced convection.
For a good approximation, instead of using the still atmospheric air conductance, you need to add the heat transfer due to laminar flow which is 10-100 times more than still air.
Let me give you some numbers to nail that sales pitch for magnetic fluid.
the ferritic fluid will form a film, coating the stator and rotor, with a thickness less than 1mm. It does not bridge the airgap, just reduce the airgap by replacing air with oil. I accept that oil has better thermal conductance than air, but it is less good than steel.
For the sake of argument, let's say you have 5cm of steel in the stator, 2mm airgap, 1cm steel in the stator and shell.
You add 0.5mm of oil (film).
= 6cm steel + 0.2cm air
Your circuit becomes:
5cm steel + 0.05cm oil + 0.1cm air + 0.05cm oil + 1cm steel
= 6cm steel + 0.1cm air + 0.1cm oil
thermal conductance of
still air: 0.0262
steel: 16.3
engine oil: 0.15
If the motor isn't running:
Your thermal resistance becomes:
Before:
=6/16.3 + 0.2/0.0262 = 8
After addition:
=6/16.3 + 0.1/0.0262 + 0.1/0.15 = 4.85
Great, the sales pitch can claim 40% improvement.
If the motor is running at 100rpm:
air speed in the gap: 0.05m * radian * pi * 100 (rpm) * 5 *(reduction ratio) / 60 = 0.033m/s
There is a table for air - heat transfer coefficient here:
This is roughly about 5-7 for 3cm/s air flow.
Before:
6cm Steel = 6/16.3 = 0.3681
2mm airgap =0.2 /(0.0262 * 6) = 1.272265
= 6/16.3 + 0.2 /(0.0262 * 6) = 1.64
After addition:
1mm oil: 0.1/0.15
=6/16.3 + 0.1 /(0.0262 * 6) + 0.1/0.15 = 1.67
It can only be a few percents either way, you would lose if the motor spins faster, and if you put in more oil, you would make it slightly worse.