Well, I jumped from the Himalaya to the Wizard, so no Magician experience. The BT stack is Microsoft and no A2DP support yet. Supposedly there will be a ROM update out in December for this. BT is 1.1, but there is evidence the device can support 2.0 and possibly that will be in the December update as well.
Overall the experience is a plus compared to 2003 SE. Activesync over BT works well, BT keyboards are supported and I can voicedial with my BT headset. Distance is pretty good for me on the BT headset as well (I am using a Motorola HS810 currently and quality as been reported as good.