I did the two day hike just over three years ago and it ranks right up there as one of the most awesome and awe inspiring experiences of all my travels. Think of it as Outward Bound meets Shirley MacLaine! Weatherwise I can't comment on November though I think it would be a good time of the year but I can certainly answer your other questions.
Safety .... not a problem. Peru's problem with the guerillas (Sendero Luminoso) is no more. However I recommend you do the trek with an accredited guide. I did not prearrange my trek. Instead I flew into Cuzco and spent the first day there getting acclimatized to the altitude (walking really slowly, drinking lots of coca tea - as recommended by my Peruvian hosts. This tea is legit, you can even buy it at the grocery store. I bought a box back and declared it at customs without any problems). The second day I went to the main square (Plaza de Armas?) and did some comparison shopping and settled on the 2 day rather than the 4 day hike. (If you take the 4 day trek you get off the train earlier along the track).
For the one night and two days all I took was the clothes on my back, 6 litres of water, some energy bars, mosquito replellant (recommend you take Malaria prophylaxsis) and a sleeping bag. Actually I didn't have a sleeping bag and one was provided for me for a nominal rental charge. All the meals were provided and while it was not five star dining it certainly hit the spot when you're hungry enough to eat a horse.
We did not have to pitch a tent to camp instead we overnighted at a small restaurant/hostel in the mountains. When it was bed time we just cleared away some tables and chairs and rolled out our sleeping bags on the floor!
Some precautions: you should be reasonably fit as the hike can be strenuous in parts. If you suffer from vertigo you should know that at times you're hiking along trails that are at the edge of the mountains. You are awaken the next morning at around 4h00 to resume your hike so that you can arrive at Macchu Picchu by the break of dawn. Then you have the whole morning there to explore the sites and even to climb up Huayna Picchu which is also challenging in parts. Note - you've got the site all to yourselves as the buses bringing in the tourists from the train don't get there till late morning.
I recommend the two day trek as you don't have to lug too much stuff along, you don't even have to worry about showering!
There are several bonuses that you miss out on if you take the train all the way there and bus it up to the site. There are some spectacular ruins and vistas along the way. The best part for me was coming around the side of the last mountain and making my way through a portal when all at once there was Macchu Picchu below me - covered with morning mist and bathed by the eerie glow of the rising sun. It was absolutely cosmic and beyond description.
One other note, if you do make the trek and find it trying along the way, don't despair, the guide is very patient. In our group we had one person who was lagging way behind but the guide stayed back. And while in the beginning our group was comprised of 7 or 8 individuals by the quarter point we had become a team sharing snacks, stories, and looking out for each other. By the way, I had signed up for an English speaking guide but it turned out that everone else in my group was Spanish speaking so the guide spoke Spanish all the way! No complaints from me as I saw it as a bonus - a free Spanish immersion course!