I am having the same problem on my Late 2008 MacBook with 2.4GHz CPU and 4GB of RAM after upgrading this morning to Lion. Not all of the Preference Panes seem to crash, but many do.
Process: System Preferences [643]
Path: /Applications/System Preferences.app/Contents/MacOS/System Preferences
Identifier: com.apple.systempreferences
Version: 11.0 (11.0)
Build Info: SystemPrefsApp-211000000000000~1
Code Type: X86 (Native)
Parent Process: launchd [119]
Date/Time: 2011-07-21 22:13:32.332 +0800
OS Version: Mac OS X 10.7 (11A511)
Report Version: 9
Interval Since Last Report: 31767 sec
Crashes Since Last Report: 22
Per-App Interval Since Last Report: 4285 sec
Per-App Crashes Since Last Report: 11
Anonymous UUID: BD1810C0-9B4F-47EF-B5BB-AD39EF88B63C
Crashed Thread: 12 Dispatch queue: com.apple.root.default-priority
Exception Type: EXC_BAD_ACCESS (SIGSEGV)
Exception Codes: KERN_INVALID_ADDRESS at 0x0000000050000020
VM Regions Near 0x50000020:
IOKit 000000000c151000-000000000c313000 [ 1800K] rw-/rw- SM=SHM
-->
__TEXT 000000008f0c4000-000000008f7d9000 [ 7252K] r-x/rwx SM=COW /System/Library/Extensions/GeForceGLDriver.bundle/Contents/MacOS/GeForceGLDrive r
Application Specific Information:
objc_msgSend() selector name: _cfTypeID
com.apple.preference.network v.2.5 (Network)
objc[643]: garbage collection is OFF
|DesktopPref|-[DesktopPref willUnselect]
Thread 12 Crashed:: Dispatch queue: com.apple.root.default-priority
0 libobjc.A.dylib 0x90019d47 objc_msgSend + 23
1 com.apple.CoreFoundation 0x927c40f4 CFGetTypeID + 68
2 com.apple.SystemConfiguration 0x9ae6cb28 SCNetworkInterfaceGetBSDName + 60
3 com.apple.preference.network 0x0b84e468 0xb84a000 + 17512
4 com.apple.preference.network 0x0b8573e6 0xb84a000 + 54246
5 com.apple.preference.network 0x0b85727d 0xb84a000 + 53885
6 libdispatch.dylib 0x947ffe85 _dispatch_call_block_and_release + 15
7 libdispatch.dylib 0x94800ee4 _dispatch_worker_thread2 + 231
8 libsystem_c.dylib 0x9a781b24 _pthread_wqthread + 346
9 libsystem_c.dylib 0x9a7836fe start_wqthread + 30