The Magic Lantern team has announced that its new custom firmware will enable HDR video capture for Canon 550D (T2i), 600D (T3i), and 60D DSLRs. HDR (or high dynamic range) is a method that combines images with varying exposures to provide better detail in shadows and highlights, and with video it's typically achieved with multiple cameras — but Magic Lantern alternates a single camera's exposure between frames, splitting the video into two streams that can be combined in the editing phase to create the HDR effect. As you can see in the demonstration video, the result is a scene with balanced lighting and greater detail.
Magic Lantern was originally created as a firmware add-on to enhance the capabilities of the Canon 5D Mark II, the first DSLR to offer 1080p video recording. Unfortunately, the new HDR firmware will not support the 5D Mark II or the 7D, which currently offer the best video quality in the Canon DSLR lineup. If you're a lucky Canon owner, you can grab the firmware tomorrow at 5:12PM EST.