I just recently started learning about this and thought maybe it would be a good idea to start with MM and try some of it out. I keep having this feeling that all the girls must already know about the canned material and must've had it used on them at some point. What are the chances of me getting busted on it? And how could I react if it were to happen?

Canned openers suck, and MM is not too beginner-friendly, not to mention outdated.
Look up SimplePickup on youtube, their method is, as it says on the can, simple, not to mention honest and easy to learn.
These are some of their videos that may help you.
[youtube]http://www.youtube.com/watch?v=_ZlZryEKdXE[/youtube]
[youtube]http://www.youtube.com/watch?v=nIu20j0ecy8[/youtube]

I was considering more for nightgame. Also MM seems like most beginner-friendly one since it considers group dynamics and the various stages of attraction are so precisely laid out.

you dont need canned openers, they make you seem like a cassette player when you recite them to girls.. Just be relaxed and say hello and throw in a neg, thats worked the best for me then i was a beginner at opening

It's a really good study on social dynamics, such as DHV/DLV mechanisms, comfort, etc. It has many good tips, such as how to tell stories well, etc. But that's pretty much all it will be good for.

It's not beginner-friendly at all. It's rigid, complicated, systematic, and takes a long time. Not to mention it depends on lots of talking, calculating, and bullshitting, especially in the beginning - it's unnatural, and you won't be able to pull it off if you have confidence issues. Stuttering out some fake indirect question at some girls, with no idea how to follow it up - no good.
There are many more, other methods that may be easier to use, don't get stuck with the most marketed one.

But if you really want to try it, use canned openers that were made by members of this forum, not by Mystery and his gang - Mystery overused and popularized them, not to mention all the dorks who thought they are the magic words to lose their virginity and used them too, which made them likely to be recognized (not to mention some of the stuff members make is fresh and maybe better stuff)