I have a chromatography test kit that measures the acids and a test prior to encouraging the MLF and several weeks later will let you know the drop in lactic acid.
White labs makes a pitchable liquid MLF thats good for 5 gallons of wine. Its not expensive $6-$7 per se. Some guys like it and some dont. It's all up to the maker I guess. Maybe someone else can chime in on the tastes that they impart. To me, they make it sound so beneficial. Smoother wines, lower acid, etc... But I've not made a bad tasting wine from CA juice yet, I dont want to fix anything that's not broke.
I will say that I tasted a wine that was innoculated with an ML culture. It definitely was smooth but almost seemed to lack the acidic bite that it needed. I would test your Lactic Acid before you decide on MLF. Even if it is high, give it several months of bulk age as this can improve the wine as well. If at that point you're not liking the amount of LA, it can be a good option. I had a red that was WAY high in acid 2 months into bulk age and I didnt pitch the MLF. A few months later the wine had gone through MLF on its own and turned out quite nice.
I'm not an expert by any means, but thats been my experience with it.