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MagicPrefs is a free application for OS X which aims to improve the functionality and configuration options of the Apple Magic Mouse, Magic Trackpad and the MacBook glass trackpad.

It features the ability to bind a variable number of finger clicks, taps, swipes, pinch and other gestures to functions like Middle Click, Hold Down Both Mouse Buttons, Spaces, Expose, Dashboard, Recent Applications, Tweet, Read Tweets, Google Reader etc.

Touch Sensitivity implements a single point control for a number of factors impacting the algorithms of the taps, swipes, pinch and other gestures.

Tracking Speed adds the ability to increase the maximum mouse speed by an extra 200%.

Also featured is a real-time display of the fingers touching the surface of the mouse that you can enable to test and monitor the way the mouse sees your input.

MagicPrefs is a application meant to run in the background all the time, it uses less than 1.5% CPU and is optimized for a minimal impact on system performance.
MagicPrefs does not install any kernel extensions not it otherwise have impact on your system while it is not running or disabled, it is not a driver per se, it just monitors the Apple multitouch driver built in OS X to get information about the touches on the mouse, stopping or disabling it totally removes any impact on the system as it stops all monitoring, as for the mouse tracking settings they are changed in real time in the os, to recover them to default values all you have to do is use the Apple mouse preference pane.

Furthermore the core of the application runs separately from the user interface which can be found in a System Preferences prefpane, from which even the menubar icon can be disabled for more transparence.