Until iPhoto 2011, the photo info box, if displayed, would show up under your photo groups & albums in the left column. In iPhoto 2011, if you want to show/edit the date, time, title, and comment, you are forced to open up an entire column on the right of the screen. This is an incredible waste of space, and it's particular egregious on the small screen of the MacBook Air.
In addition, with past versions of iPhoto, you could type a comment in for one photo, and press command-[ and command-] to move to the next photo, with the cursor in the same comment box. This seems to be gone in iPhoto 2011.
When creating a photo book, you can opt to crop a photo, and then center it as desired on the page. Photo books, as imported from iPhoto 2009, seem to have this centering information lost.
Fortunately I have found that I can delete iPhoto 2011 from my MacBook air running Lion, and then run the iLife 2009 installer and install iPhoto 2009. It seems to run fine under Lion.