After a few days reading and studying the Magic Lantern (ML) AJ Version today I tested the firmware... These are my early observations..
1. It doesn't actually replace the current built-in firmware but rather it coexist with the built-in to makeup a new firmware.. Once you restart the camera the firmware went away..
2. There are a whole new world of settings available to you once the ML is loaded..
3. I have been using a whole set of setting to capture movies with my 5D no to mention the Marvel Cine 3.4.. And guess what it still works with ML loaded..
4. Now it is even possible to remove the focus square in the middle of the life view..
5. There is a voice bypass mode that disable the internal audio chipset.. but you need external amp that would do sound amplifying before being send to the camera for recording..
Test video is coming soon.. and will report more about Magic Lantern as I learn more about it..