Energy is never destroyed, but eventually it all ends up as heat as we all know. I believe (and am not sure) that since there is actually 'work' being done that eventually there is energy being spent. Compare for instance a fridge magnet stuck to a door: not doing any 'work', so it will probably hang there forever and not lose it's magnetism, as opposed to your magnetic bearing system where there is continuous motion, resulting in energy being spent. Although there is extremely little friction, there will be energy release in very small quantities over a long period, since the magnet won't lose it's energy quickly (especially if its a rare-earth magnet with very high coercivity). Another consideration: What if you run this bearing in a vacuum, where even the air resistance is removed? I myself have been working on such a concept involving a polar array setup of permanent neo magnets to use as a magnetic bearing - not even sure if it would work!