Well that of course is the problem: you have to find someone who has actually attempted your suggested method, has found success and is hopefully still reading this thread!
I was an original contributor to this thread when my iMac G5 died (for the last time) and I replaced it quickly with the 2011 Mac Mini without doing any due diligence on the release of Lion from my known experiences with Snow Leopard.
Even before newfoundglory announced his successes here, I made the decision that I wanted to continue to run Lion exclusively (that is not dual-boot) and regain my access to my PowerPC apps (that quickly died at that time, such as Office 2004, Quicken PPC 2007 for Mac, etc.). This decision, in my case, was primarily for the reason that I had just acquired a hand-me-down iPhone 3G that I had modified to work on my T-Mobile account and wanted the ease of iCloud for updates to my Address Book/Calendar.
So in my case, I went down the separate road to get PowerPC apps working in Snow Leopard client installed into Parallels, since at that time Snow Leopard Server was being sold by Apple at $499! As you know, after much research of the state of the art at that time, I was able to "hobble" together a way to accomplish this result.
I then moved my continued research and support for third parties over to MacRumors, primarily because this site does not allow for the constant modification of the first thread. You are discovering this flaw as you attempt to run down the state of the art of running Snow Leopard on the 2011 Mac Mini in a 45 page thread that has important information that is difficult to find and extract from this thread!
I would suggest that you attempt it, and be sure to come back and post your successes or failures!