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 wit
h 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.
