So what is it with 'magic loop'?

I am knitting a sweater from a pattern I bought on Ravelry.  It is a standard pull-on sweater with a pretty lacy panel down the outside of the sleeve.  I am using a cotton yarn frogged from a cardigan so I am going to have to be a bit careful with how much I have, but I am hoping that with the low neckline and half a ball of the original left over I will have enough.

I am of the old school where garments were knitted flat, each piece separately, then seamed together.  I am not a big fan of knitting in the round, I hate using double pointed needles and struggle a bit with circulars, but hey ho, this pattern is completely in the round and seamless so I thought I would give it a go.

I started with the neckline, knitted downwards flat until joined at centre front, used a long length circular needle from then on, going OK if a bit fiddly pulling the loops of needle through, but fairly mindless knitting.  I carried on to about half way down the body, then as I am watching the amount of yarn, decided to do the sleeves so I could finish the body using what I had left.

So I started the sleeves using magic loop with my long length circular.  Not happy, taking ages doing all that moving the loops along, not enjoying this at all.  I moved onto a set of 4 dpn's, hate doing this, so slow and difficult trying to do the lace pattern.  So then moved onto a smaller length circular needle and continued with magic loop, and it is really awkward, slow and forming a definite ridge at the change over point.

I have nearly finished the first sleeve and I am just hoping that the stitches will even themselves out during block and wear.  I have scoured the internet and I seem to be doing it right, it must just be the way I hold the needle.  How I wish I had knit the sleeve flat before I joined the body, it would only have needed the one seam down the inside of the sleeve.  And I still have another sleeve to go....  I know what I will do next time and it won't be magic loop.

Update 5th May.  Got as far as the ribbing on the first sleeve and not happy with the result.  Pulled it undone and started the sleeve again knitting it flat.  Flying along now and much happier!  A lesson learned.