@Amoppert: For your specific problem, I can confirm that it is NOT a Lion problem. Why? I also own a G-Technologies drive (the G-Drive 2TB, to be precise) and I run Snow Leopard. I have had the exact same issue you described. In actual fact, the only firewire device my iMac has never had any real issues with was the iOmega UltraMax 1TB hard drive. I now cannot use that one any more as it broke down in quite a definitive way (burnt circuit board).
I have another iOmega drive (the eGo 500GB Mac Edition) which is daisy chained to my G-Drive. After having reset the SMC (though I only had to do it once) both the G-Drive and the iOmega appear on the Desktop.
A sideline to what I described above is the strange occurence that I encountered three times now: whilst working on my iMac (again, running Snow Leopard), the G-Drive would unmount abruptly, resulting in the usual error displayed when such a thing happens. If I unmount the drive consciously and (thus) safely, the drive spins down after having unmounted. In the cases meant above, it did not. The strange thing is, the G-Drive would unmount - I call this a 'loss of communication' - but the iOmega daisy chained to it would remain mounted and operable. To get all three drives back, I then have to consciously unmount the iOmega so as to turn the G-Drive off completely, then wait a couple of seconds (I usually check System Profiler to see the drives have disappeared from there, because that doesn't seem to happen instantly on my Mac) and then turn the G-Drive back on. Voilà, all drives are back up and running. The last time this occured is (luckily) some time ago now, let's keep it to some 2 months.
Taking what I wrote, I can confirm, again, that it is not a Lion related issue after all. And, to be honest, after the iOmega failed on me, the G-Drive is 'behaving' rather well. So well in fact that I am thinking of getting myself an additional one of those. Whilst waiting for my first G-Drive to be delivered, I resorted to a Western Digital WD My Passport 250GB for data storage, and had to go without a Time Machine Backup for some time (the drive wasn't large enough). But the WD Drive had extreme difficulty to even mount on my desktop using FireWire (800 or 400 didn't matter) and when it did mount, it would become unresponsive and freeze down Finder after writing some 2GB of data to it in one go. Reading data off it never caused any freezes... Anyway, I had to connect that drive through USB to be able to do anything of sorts with it. This complaint is well known for these drives and, again, is not Lion related. So, all in all, the G-Drive still is a more than welcome companion in my home. It runs my TM backups and keeps other data, and has done so greatly. Despite aforementioned hiccups at the start.
Again, I cannot stress enough that I experience these problems running Snow Leopard, not Lion. In fact, this issue is one of the things keeping me off an update to Lion, as I hear so many people having problems related to FireWire. Then again, I think I shall take the jump after 10.7.3 is released, because I think upgrading to Lion will not change my situation regarding FireWire in the slightest. I would have LOVED to see how Leopard (i.e. 10.5) would have handled the G-Drive, but I see little use in doing a downgrade to Leopard just for that little experiment. I feel, however, that Apple may have updated the FireWire HDD Class drivers in Snow Leopard. Seeing as loads of you are experiencing similar issues to mine whilst running Lion, I think they did not do so in Lion (i.e. I think they still use the very same FireWire HDD Class drivers in Lion as they did in Snow Leopard.
Having taken this conclusion for myself, I think that much of what is described in this thread is not Lion specific after all, but is, in fact, dating back to Snow Leopard. Come to think of it, back when Snow Leopard was released, loads of people were complaining about similar issues. I wonder what Apple has done to Firewire...?