Lion kills SoundTrack Pro, DVD Studio Pro and Color
After installing Lion on my cloned boot drive FCP 7.0.3 runs but SoundTrack pro, DVD Studio Pro and Color return an error message indicating Lion can't run PowerPC programs. They also have a white slashed circle over them indicating they aren't compatible.
This wasn't a widely advertised restriction of Lion prior to its release.
I'm thankful I have a fully operating Snow Leopard installation.
Mac Pro, Mac OS X (10.7)