I'm not sure that Magic and Showmanship would be that helpful -- much of it is a reflection of the time in which it was written.
The answers to your question depend on whether you are doing close-up or parlor/stage magic and the type of audience you are performing for.
Close-up magic is a conversation. Think about how most conversations play out -- either someone is telling a story, explaining something they have seen / read / heard or there is a back and forth with questions and answers. Make your magic a conversation. Make it about a story or about something you heard or a series of questions. Leave space in your presentation for true interaction with your audience. Let's say you are doing a routine about dreams -- ask your audience if they remember what any of their dreams from last night or if they had a recurring dream or if they have ever dreamed that they could fly. Listen to their response and then go into the routine.
Stage and parlor magic are like a play. For each effect you need a plot, characters, drama and sometimes even humor. You need to show what is happening, why it is happening and why it is important through your script. Also make it interactive. Have a conversation with your volunteers.
For close-up and stage/parlor you have to make it about more than fooling the audience with the effects. Avoid what Euguene Burger calls narrating the adventures of the props in the magician's hands. If your presentation is about what a deck of cards or a couple of coins do, then it is not engaging. Few people, other than magicians, have an emotional attachment to a deck of cards or a couple of half dollars. Few people will be engaged by you merely saying "look" unless you have a production crew behind you filming for a television special.
As for misdirection, that is a function of the design of the effect. That is, it should be built into how you do the effect. The key principles focus on attention and inattention. As Tommy Wonder says, misdirection is a misnomer. We misdirect by directing the audience's attention to something else. That is, we direct their attention to something rather than away from something. That leads to inattention to what we are doing. Another way of creating inattention is making the move on an off-beat. When there appears to be nothing happening. The audience is not paying attention because there is nothing to pay attention to. One point of inattention is during the preliminary phase of a routine - when you are setting up the effect, especially if you give off the sense (like Dani DaOrtiz) that it doesn't matter. Often, the most inattention is during the release of tension after a reveal or even a joke.