Camera Labs

As you may already know, this is the Xmas update of Magic Lantern - the latest 2011 update. After lauching the teaser, we were overwhelmed by your interest: Magic Lantern community is much bigger than we thought! It's huge!

This update brings two major features, made possible by the discoveries of a new team member: g3gg0.
FPS controlEdit

You can lower the frame rate down to 4 fps at a shutter speed of 1/4 seconds, which gives you extreme low-light capabilities.

Overcranking doesn't really work; the 60D hardly gets 35fps in 1080p. On the other hand, 500D and 50D can now record at 24p!
HDR videoEdit

For high-contrast scenes with not-so-fast moving subjects, you can get great shadow and highlight detail.

This feature is enabled on all cameras, but older models may have synchronization issues.

We are also posting a free HDR post-processing workflow for advanced users, based on Avisynth with InterFrame plugin, VirtualDub and enfuse. Check this discussion thread for details!

Tip: HDR and FPS control are available in Advanced mode - press the MENU button!
BONUSEdit

If you support Magic Lantern development with a donation, you will get a few nice extras:

A ready-to-run version of our HDR workflow, working on Windows (native), and also Mac and Linux (under Wine), with everything included in the zip file.
A preview of the upcoming 5D Mark II unified version.