The list of features mirror most of the other offerings for HTC EVO 3D kernels out there at the moment, along with additional things such as Ziggy's lagfree and dual-core mods, CIQ elimination, and GPU tweaks. It feels faster in games than Tiamat or Ziggy's, but it gets lower Quandrant scores. It also feels a bit jerky during boot up, but after that it appears to become a pegasus and fly.
As it contains Ziggy's EVO 3D dual core mod, this is one you're probably going to want to flash from Fastboot (or plain ol' recovery if you have S-OFF) as opposed to Flash Image GUI. Something about Ziggy's current install scripts makes flashing a bit more difficult.
As with all root offerings, make sure to make a Nandroid backup before flashing. I learned recently that flashing a kernel doesn't always clear what the previous kernel changed in the system, and at least Ziggy's dual core mods tend to do more changes than most.
Magical Unicorn is definitely a kernel to keep tabs on, although you might want to wait until Beta 2 trots out of the gate before you try it out for yourself.[InfectedROM]