Lion OS X 10.7.3 RAW FILE Support using preview

Is Lion supporting the new RAW file platform or not?

I've upgrade to Lion and also upgraded Adobe, Canon 5D Mark III, All my software too. My frustration lies within the RAW being previewed in cover flow before actually loading them to my MAC.

It looks like Adobe has been trying with a conversion to PNG, wha't Apple Support's Progress if any?

I need an update! Please!