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This paper is devoted to numerical simulations of the magnetization dynamicsdriven by a spin-polarized current in extended ferromagnetic multilayers when apoint-contact setup is used. We present (i) detailed analysis of methodologicalproblems arising by such simulations and (ii) physical results obtained on asystem similar to that studied in Rippard et al., Phys. Rev. Lett., v. 92,027201 (2004). We demonstrate that the usage of a standard Slonczewskiformalism for the phenomenological treatment of a spin-induced torque leads toa qualitative disagreement between simulation results and experimentalobservations and discuss possible reasons for this discrepancy.Comment: Invited paper on MMM2005 (San Jose); accepted for publication in J.  Applied Physic

Micromagnetic simulations of the magnetization precession induced by a spin-polarized current in a point-contact geometry (Invited)