The recently discovered and reported quasi-vertical permanent magnet levitation phenomenon is revisited for a better characterization and modeling. The supposedly abnormal deviation of the floater magnet equilibrium point from the vertical symmetry axis of the levitation structure is further investigated. To achieve this goal, a more refined magnetic charge based model is proposed for determining the equilibrium point position. Finally, potential use of the levitation structure as highly sensitive tilt meter is identified and discussed

Keywords: Permanent magnet levitation, Diamagnetic stabilization, Magnetic charges, Sensitivity, Tilt meter