These guys and gals are absolutely amazing and why Canon hasn't contacted them to buy the functionality or hire them to work for Canon I don't know!
The Canon EOS M is a “point and shoot” but it has gotten some good reviews (very good one at lensrentals) and tho it is a bit slow to autofocus, it is amazing to see the Magic Lantern team hacking into just about everything!
Canon EOS M hacked!
Here's the screenshot of the “hello world” image
Another cannon EOS M/magic lantern image has been posted showing some of the menu functions that are currently working
BTW menu works and can be walked. Need to figure out how to work with the small amount of buttons we have (until later when we unlock how to use the touch screen). up/down/left/right can walk the menu, play/set either toggle a setting or open a sub menu. haven't enabled any features yet.
(cover photo credit: snap from the magic lantern site)