  In planar nano-magnetic devices magnetization direction is kept close to a
given plane by the large easy-plane magnetic anisotropy, for example by the
shape anisotropy in a thin film. In this case magnetization shows effectively
in-plane dynamics with only one angle required for its description. Moreover,
the motion can become overdamped even for small values of Gilbert damping. We
derive the equations of effective in-plane dynamics in the presence of
spin-transfer torques. The simplifications achieved in the overdamped regime
allow to study systems with several dynamic magnetic pieces (``free layers'').
A transition from a spin-transfer device with a static polarizer to a device
with two equivalent magnets is observed. When the size difference between the
magnets is less than critical, the device does not exhibit switching, but goes
directly into the ``windmill'' precession state.
