I decided to post to this discussion because the title really reflects my feelings about Lion at this moment though I don't agree with all of what William wrote in his initial post. I recently bought a late 2011 MBP 15"/2.2/i7/4GB with Lion 10.7.2 pre-installed and migrated my Snow Leopard system seemingly without a problem. It was as I started going through my apps and files, checking and updating, that I started noticing problems - slowness, a recurring beachball though the CPU(s) were hardly working, and files disappearing from Finder (not deleted, just not displayed). I have gone through hundreds of posts in this and other forums, performed all the usual recommended remedies, reinstalled over the system, erased and reinstalled fresh, etc. Last night after several hours on my MBP, mostly web surfing, some video editing, Lion went belly-up on me again. First slowness, then apps freezing, more and more beach balls, etc. Restarted only to see the endless beachball as the only thing moving. Reboot to Recovery, permissions repair, PRAM reset, SMU reset, all ineffective. **** I couldn't even get into a safe reboot! Yes, I finally got it restarted and I am about to do a last ditch total wipe and fresh reinstall of everything - OS and apps. If I don't get a stable system this time, I am going back to Snow Leopard.
Don't get me wrong, when Lion works I really, really like it. But I have never before had so much trouble, serious trouble, and frustration with a new Mac system and I've been using Macs for 26 years. I am convinced there is something wrong with Lion that manifests itself only over time. I can only hope that the Apple folks really dig into the system. I sympathise with William. He may not be right from a technical sense, but I have read the posts of an awful lot ot Williames out there and, to use a well-worn phrase, where there's smoke, there's fire.
Hope I haven't bored too many people, Just my take on things.