The last decade has witnessed a remarkable transfer of basic science to practical devices in the area of magnetic recording. In less than 10 years, the discovery of a phenomenon that occurs in artificially structured thin films of magnetic and nonmagnetic materials, known as giant magnetoresistance (GMR), had developed into a $100B/yr business in the market of hard disk drive alone. This advance was a result of learning how to grow these films coupled with a basic understanding that allowed optimal tuning of their properties. As efforts to reduce device size scales have continued, it has become increasingly attractive to investigate the magnetic properties of artificial structures with even smaller dimensions and lower dimensionality- nanowires and dots. Using a combination of novel synthesis methods, including laser molecular beam epitaxy, step decoration growth, and buffer layer assisted growth; we have developed a generic way to grow nanometer-sized films, wires and dots on a common template with the s ame areal density. The ability to grow magnetic nanostructures with differing dimensionalities on the same template means that we can now study the effect of spatial confinement on magnetism and transport. This is crucial to the development of nanometer-scaled spintronic devices, an area in which the next breakthrough in information technology may be anticipated.