I have a LG NAS N2R1DD2 or somesuch serial number. I upgraded the firmware to 2660 today, the notes promise improved Lion support. Finder managed to connect to it OK, but could get no progress with time machine. When I opened time machine I had no evidence of any network drive even though I could see it in finder and could log onto itand put files in it.
I looked through the manual and although the instructions are wrong, it tells you to mount a volume in finder under the go, connect to server menu. When you select this menu you need to enter the IP address of your LG NAS, and choose a volume (0 public volume in my case). Once I did this, the disk appeared in time machine preferences and I am now backing up via time machine for the first time since the summer.
Now all I have to do is figure out how to get the iTunes server working. I am getting apple TV for Christmas and want to run from the LG NAs rather than having the iMac on all the time. Any advice greatly appreciated.
Best wishes,
the seahorse