The newest update of it is easy as hell, all you have to do is update to the newest canon software then put the ML software on the card then hit update again. I got a new SD card and had to download ml onto that card and I was pleasantly surprised. You used to have to do this thing to the card manually (making it bootable or some shit), it just does it for you now.
Magic lantern is so worth it for the bracketing and better iso control alone. Turning the AGC off is great too if all you use is the on board mic. Then you have useful shit like magic zoom, finer shutter speed increments, easier control of white balance, bulb timer, and an intervalometer just to name a few. Don't worry about your camera getting bricked, just don't bee a fool and install it incorrectly.