This is a quick 3 minute walkthrough of installing the latest (October 2011) version of Magic Lantern for Canon DSLRs. The link to follow, bookmark, and download from is:
With these more recent versions you DO NOT have to go through the process of making cards bootable, because what you place on the card does that for you now. This makes it super easy for anyone with a card reader to install and benefit from. This unified build works on the Canon 50d, 60d, 550d (shown in the video, aka T2i), and 600d. The 5d mkII also has a build, but it is different from the one shown in this video.
Make sure you also read the instructions and manual that are in the downloaded zip package. If you are running an old Canon firmware you will likely need to update that first.
Apologies for the nasty looking out of focus Flip cam footage, but you get the idea.
Huge thanks to Alex for making this tool so easy to use and useful.
Here is where you can follow Magic Lantern on Twitter for the latest updates -