HD video on a non-HDSLR?

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This is probably old news to y'all but I just happened upon this article:
http://lifehacker.com/5595455/turn-your-non+video-canon-dslr-into-an-hd-video-camera?tag=camerahacks&autoplay

and was really excited at the possibility of shooting video on my XSi.. yet as i read in the comments too, is it risky for the camera's sensor since it must be done with Live View?

Has anyone tried this?
 
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