Magic Lantern, if you don't already know is a firmware type code that enhances features in your DSLR camera. There's only a few cameras supported at this time, and only so many features are 'unlocked' for each one. When it was first released, it caused quite a stir, but Canon has since updated their firmware to resolve some of these issues. For instance manual audio levels and 24p in the Canon 5D Mark II came after these features were already unlocked with the Magic Lantern firmware. The code is stored on the Media card, so after rebooting - the camera returns to it's normal self. This doesn't mean that it's entirely safe (although i've never heard of any problems using it). The code that starts running as soon as you go through the steps of booting up from it will make your camera do tricks it wasn't originally designed to do including run faster and run harder.
This time around Trammell Hudson the man behind the madness has added a new upgrade to the 5D Mark II firmware to run the video bitrate up to 76Mbps chasing the popular hack for the GH1. This still might be a bit too high for the Canon 5D Mark II camera without over buffering, so a sustained 70Mbs in 24p looks to be more manageable. There's options from 7Mbps (low quality) and several in between up to the 76MBps (OEM is normally about 40Mbps). Hey i'd take a sustained 50-60Mbps, which would already make a huge difference. Of course depending on the amount of information the camera absorbs that might change. Static shots compared to running, fast moving subjects, and fast exposure changes will all play a role in the amount of information being processed. It's an all free download, but of course if you're interested in the hard work Trammell has been doing for the DSLR video community, you can always drop a donation found on the Wikia page. For more information and other features that you can unlock from your DSLR check out the Wikia https://magiclantern.wikia.com/wiki/Magic_Lantern_Firmware_Wiki.
Yo Trammell, let's see some action on the Canon 7D as it appears to have the dual processors and the only camera capable of outputting 1080 through HDMI. I'm hoping this translates to a camera that can process more than 76Mbps too....
