Canon 1100D / T3 Current state:
Release Candidate Danger, Will Robinson! Danger! The main issues that are holding ML are:
Blindly maintained (development happens without a physical camera in our hands)

Lack of physical buttons (for menu, for example)

Lack of RAM (
only 128MB; most other Rebel models have 256MB)

Low resolution sensor: 4290x2858 => 1430x952 theoretical max in LiveView

Slow SD interface (20MB/s, not enough for raw video)

Low display resolution (1-pixel wide items may be incorrectly displayed or aliased)
Short-term Todo List:

Enable raw video and silent photo capture (almost there)

Enable Lua scripting (feedback needed -- what works and what not?)

Make sure the stability tests are passing (feedback needed)

Write down which features work and which ones not (menu walkthrough, for testers)
Update the user guide (task common for all other camera models)

Done: Port 550D button hack to 1100D AE_COMP to open menu but retain the original long-press functionality.

Done: Start working on the fonts and display routines
Random bonus stuff:

Done: In-camera audio meters.
I will be posting updates here as I make progress -- Nanomad
The current version compiles and runs on 1100D.
RC 3: http://nanomad.magiclantern.fm/1100D/magiclantern-v2.3.1100D.RC3.zip Use development builds instead!! Use the included .fir (for 1100D 1.0.5) to enable the bootflag.
Source code:
http://bitbucket.org/hudson/magic-lantern/src/tip/platform/1100D.105Main builds:
http://builds.magiclantern.fm/ (some features not working)
Development builds:
http://builds.magiclantern.fm/experiments.html (feedback needed)