Should I upgrade from Snow Leopard to Lion?

M$ Office 2010 (and 2008) work (and always worked) in Lion

(Office 2004 is the PowerPC App)

Open Applications->Utilitites->System Profiler, Click on Applications in the left panel and sort by Kind. Only Intel and Universal Apps will run in Lion

Sorry, typo, s/b Office 2011 (there is no 2010)

I notice that my superdrive is not so super anymore. I cant write to a dvd though i still can to a CD. I would stay with snow leopard. its a safe bet. wait until 7,3 or 7,4 before coming over.

Also, are there any other precautions I should know before making my decision.

Make sure you're not running any third-party system modifications or "mission-critical" applications that are incompatible.

Any other common programs that are not supported on Lion?

Quicken 2007, Office 2004, and old versions of Photoshop are the ones most often complained about. They don't work because no PowerPC-only application works under Lion. You can tell easily whether you have any such applications by looking under Applications in System Profiler.

Third-party modifications, especially kernel extensions, should be considered problematic unless you have verified with the developer that they're OK.

Was there a Microsoft Office 2010 for Mac? I thought they went from Office 2008 directly to 2011 for Mac.

Office 2011 for Mac runs as well as any Microsoft product can in Lion.