McGoldrick formed the band Fluke! (later renamed as Flook) with Brian Finnegan and Sarah Allen in November 1995. After one tour, he left to pursue other projects.
He was an early member of Lúnasa from 1997 until roughly 2000 and played on their first two albums. He also joined Capercaillie in 1997, playing on two albums.
In 1999 he joined Eden's Bridge and recorded three albums with them, "All in a Life," "Isle of Tides," and "Live - In a Little Room." He also recorded two albums with members of the band, "The View From the North" under the band name of Northern Lights, and "Celtic Melt."
He has recorded four solo albums: Morning Rory showcases his traditional skills. Fused explores several other musical genres including trance, while Wired, released in October 2005, takes the experimental approach of Fused even further. His latest album Aurora, released in 2010, is less experimental but still adventurous. He also recorded an album, At First Light, with John McSherry (also ex-Lúnasa) going back to his traditional roots.
In 2010 Michael replaced John McCusker, joining Tim O'Brien on Mark Knopfler's US leg of the Get Lucky Tour. This being a success, he was invited (and accepted) to stay on for the remainder of the World Tour in Europe when John McCusker had returned. He went on to play on the next Mark Knopfler album, Privateering and played with the band for the subsequent World Tour.