In the present paper some of the magnetic properties of the nanocrystalline Fe-based magnets produced by an appropriate annealing of their metallic glass precursors are reviewed. These properties are discussed on the grounds of their characteristics measured at the elevated temperatures. It is shown that the effective magnetostriction these magnets display, results from the competition among two contributions of the opposite sign originating from the individual magnetic phases, crystalline phase and the residual glassy matrix in which the nanocrystallites are embedded. It is also shown that at certain conditions the magnets considered expose superparamagnetic behavior and that their isothermal magnetization characteristics can successfully be used to calculate the distribution of the particle volumes. Application of the recently invented new genetic algorithm method, a powerful tool to calculate these distributions is, finally, presented.