I did a lot of troubleshooting of this problem yesterday and came to no conclusions, other than the updates caused some major complications, at least on some Win7 systems.
I've tried disabling all non-MS services and startup items. Also Safe Mode with Networking. I've messed with the firewall, turning it off, and also adding WebKit2 to allow. Nothing makes any difference.
Right now, my desktop Core 2 Quad with Win7 x64 system has Safari uninstalled, and seems OK, except that MobileMe Sync runs at 25% CPU load until I end the process. I've disabled sync for the time being.
My laptop, which has Win7 x86 and AMD Athlon X2, still has some issues after uninstalling Safari. AppleMobileDevice service runs at 50% and so does PC Tools service (related to Spyware Doctor with Antivirus...I have this on all 3 of my PCs). This maxes out the CPU, of course, until I end the AppleMobileDevice process. I have set this service to Manual in Services. Hopefully this will resolve further issues until a fix is found.
My main PC with Win 7 x64 and Core i5 760 has not been updated and will remain so for the time being.
Thankfully, my Mac Pro 1,1 has enjoyed a smooth transition to Lion and am enjoying all the great things about the new software.
As for installing an earlier version of Safari, I haven't been able to find one on Apple's site. The download link to Safari 5.0 takes me to the 5.1 link. I'm using Firefox in the meantime on the PCs.