I have had quite a few Magic Lantern's move through my collection, including raising a couple flasks worth of seedlings. I would say out of every flask, between 10% and 25% of the seedlings were vigorous and quick growing, and reliable bloomers. The middle group grows on the slow side, and about 10% are very slow, much like the more recalcitrant of my Paph micranthums. By comparison to Paph micranthum, Magic Lantern is a big improvement in ease of growth, but it is not a quick hybrid, nowhere near as quick and easy as Paph delenatii.
I love the flower, and the majority are very much easier to bloom than Paph micranthum, but Magic Lantern is not the Maudiae of the Parvisepalum group. Get and grow Magic Lantern if you are frustrated with Paph micranthum and like the micranthum look, but don't expect a quick growing Paph.