"Why would you go through all these ritualistic practices when you can just note your way through the thing?"
Well, my question is: how can you not practice magic?
I am still a fan of noting, obviously, but really, we are essentially magical creatures in many ways. Intention, motivation, emotion, concentration, energy, these flux, converge, focus, move, permeate, resonate, and interdepend. Even if you are not doing formal ritual, it is what is going on anyway.
In fact, it would be easy to include vipassana/noting/etc in the general category of magic, being just one of many things you can do in that much larger framework, in this case casting a "get really good at noticing what is going on and noticing its essential characteristics spell".
Lots of magickal rituals are actually very, very profound, and, if done really well, will produce profound effects. Take the Middle Pillar Ritual: http://home.earthlink.net/~xristos/GoldenDawn/rituals03.htm
""1. Stand in the Temple (or other location) facing West. (This is because you are taken to be standing in the East, source of the Light of the Golden Dawn as it manifests on the Earth plane.) Arms are stretched out straight to both sides. On your right (the North) is the Black Pillar of Severity; on your left (the South) is the White Pillar of Mercy. You stand in between as the Middle Pillar of Balance.
2. A blindingly brilliant white light, the Light of the Infinite Self (Ain Soph Aur) originates far above your head, coming from the Crown. (Saharshra).
3. The light descends to the top of your forehead, forming a sphere the size of your head. Vibrate, strongly: EH-EI-EH ("I AM")
4. When this is felt strongly, allow the light to descend to the Daath center (throat chakkra).) Vibrate: YHVH ELOHIM (I Am the Mighty One of God.)
5. Allow the Light to descend further to the heart center (Tiphareth/Anahatta chakra). Vibrate: YHVH ELOAH VE-DAATH. (I Am the Lord of Knowledge.)
6. Allow the Light to descend through the Solar Plexus, down to the Svadisthana Chakra (generational center) at Yesod. Vibrate: SHADDAI EL-CHAI (Lord of Life.)
7. Allow the Light to descend further, through the Muladhara Chakra (root center) and all the way down to the earth, gaining density as it progresses. Vibrate: ADNI HA-ARETZ (Lord of the Earth.)
8. The Light of the Golden Dawn now surrounds the whole body of the Initiate.
9. Allow it to ascend back up to center it in the Heart, where it becomes established in fullness.
10. From this Center the Light may be channelled as a healing energy, through the palm of the right hand, as a white ray of force aimed at an object. The Light may also be established in the Heart and utilized as a catalyst for meditative states and visions, if it is meant to be so."
Do that as actually described, with the full visualization blazing, and see what happens...