I have the magnetic ride control on my 01 Suburban. It rode great for the first 125k miles until the shocks started leaking. Replacement shocks were $250 EACH, and they weren't coil overs, just plain shocks. This truck has leaf springs in the back and torsion bars in the front. After much research I decided to bypass the Autoride system.
Essentially the system uses a ride height sensor at each corner and the Ride Control Computer combines input from steering angle, speed, and other sensors to vary the current to the shocks, which in turn varies the fluid viscosity and therefore the stiffness of the shock. If you unplug the shock, you will get a "Service Ride Control" error that won't go away. From what I have read there is no way to pull the fuse or otherwise disable the ride control computer.
The fix I found was this eBay Resistor Kit. Basically. you connect a resistor to the wires that connected to the shock absorber, tricking the computer into thinking that the shock is still connected so it won't set an error code. With the resistors in place, select the shocks of your choice.
I installed these in 2013 and have not had any messages or error codes since. I will say the ride is a lot firmer with the shocks I selected, the Autoride was nice since it would soften the ride on smooth roads. But I saved at least $1000, and that makes me smile when I hit a bump
If you;re going to do this, I would get 2 kits and do both front and rear, then get 4 matching shocks.