ML is Malolactic Bacteria. It converts any Malic to a lesser harsh Lactic acid.
First off, I am an Associate Winemaker at Fenn Valley Vineyards, near Fennville, MI. I have been working in that capacity since 1999. I inoculate all the wines with yeast and in the case of most red wines and a few whites (like Chardonnay) with ML MBR31 we get from Scott Laboratories. I put this in there so you know my background and not my bragging.
Pinot Noir we ferment is not very acidic. T/A is somewhere in .500 to .400 range when we crush and pH is too high as a rule. A little Tartaric acid at the beginning, to up the acid to around .700 is good and it lowers the pH from the 3.80 range to something more likeable, like pH of 3.35 +/- .
If your Pinot noir wine is anemic in acid before and high in pH adding ML will make it even more so. Just be aware of that. You will probably have to come back in and add Tartaric acid (Not malic) later on to raise the acid and lower the pH before you cold stabilize.
The advantage of adding Tartaric acid early on to fresh crushed grapes is it seems to really stabilize the color in the pigments. Too high pH early on and we get a washed out red - brown color, and it does not come back later after pressing.
Good color with early additions of Tartaric acid, but don't go overboard IF you plan on doing a ML fermentation. ML does not like low pH unless you buy some expensive bacteria that was developed to work well with lower pH wines.
Always add ML after the wine has gone below 1 brix, and not above. ML can sometimes interact with the sugars giving odd flavors. (addendum) There is some advocates on co-innoculaton of yeast and ML bacteria, but this is usually on purchased, well groomed, ML that get along together. Problems with co-innoculation is that yeast have a tendency to use up the nutrients that ML would like to have to grow. Plus, some really don't prescribe to this idea as things can go "south" on this approach easier than to just wait.
Don't add ML if you added Citric acid as that can create some funky smells and nose as ML and citric acid have a tendency to produce some rather "buttery" flavor components (Diacetyl) see here:
http://www.scottlab.com/uploads/documents/downloads/318/ML%20Brochure.pdf
"Some" gross lees are preferrable during ML when you are looking for spontaneous ML. It is easier to get the "spontaneous" from real fruit, and not canned product. ML is killed at temps above 100 F by the way, and something that canned, or concentrates, usually have gone above in temps.
Hope this helps.