Magic Lantern, the well known firmware hack that has added many video camera features to the Canon 5D MkII’s firmware, has been reported to be working on the Canon 550D/T2i and 60D. Â Check out the Magic Lantern Wiki for more details.
Reminder: Magic Lantern is a firmware hack so install at your own risk.
The new update for the 550D is really good from what I’ve tried of it so far. Adds some good features that I will defiantly be using.