I’ve got a HTC Magic [Australian, through Vodafone, 32B]. I’ve had it for a year now. It’s old, the hardware is somewhat antiquated, but I still love it to bits, and thanks to crazy kids like @cyanogen, it can stay up to date, OS wise.
I recently switched from 4.2.15 to 5.0.7, but the switch was not without its hiccups, so I thought I may as well try and simplify the XDA instructions [as they're somewhat overwhelming for n00bs like me], and add in some additional steps/information that they might take for granted.
I’ll repeat it again, I was rocking CyanogenMod 4.2.15 before this, meaning that I’ve already rooted my phone. Surprisingly, it was an absolute bitch to get back to 1.5 since I’d upgraded to vanilla 1.6.
Oh, and I should probably add in a disclaimer. There’s a chance you’ll brick your phone, and I refuse to take no responsibility for it! Having said that, it’s pretty safe. “You gotta risk it to get the biscuit”