Thomas A Reed & Ernie Stamper,
Thanks, but we're not interested in whether you think we should want the feature back, whether you think we should use the feature, or whether you think the feature works for us. If we were, the OP would have phrased his question accordingly. It might have looked something like this:
Hi,
Mail 5.0 in Lion removed the "Bounce" feature. I used to use it all the time. Should I not have been using it? Should I want it back?
Of course, that's not what the original question was, was it? No, the OP wanted to know if there was a third-party option for bringing that feature back. That was the question: If you don't have an answer to any question that was actually asked, kindly keep your moot points to yourself.
As for the Automator/Services/Applescript workaround that was posted by someone who actually bothered to answer the question: I just confirmed that it does work, exactly as desired, in Mail 5.0 for Mac OS X 10.7 Lion. I used one of my other email addresses to send, then used the workaround to bounce, and went back to the sending address... lo and behold, there was my bounce, and it was beautiful.
Furthermore, I can confirm that this is NOT because I have some old version of Mail or old library on my computer. I did NOT use Mail before Lion, because I did not like the old Mail app. Lion's Mail app is friggin' brilliant, and so I am using Apple's Mail app for the first time on this computer. And as I said, it works perfectly.
Folks, if you're wanting the old "Bounce" functionality, refer to charrison's instructions. They work brilliantly, and as dog opus mentioned, a keystroke shortcut can even be assigned.
Thanks to both of you guys.