This has to be something other than Safari itself, as installed. I have Lion on a brand new i7 MBP with 8GB that I use all the time, and it will shrink to 20MB free memory all the time.
I installed Lion on my old C2D MBP with 4GB (and the old nVidia card) and almost no extra programs installed besides MS Office'11, and I can't open enough tabs or plugins to get it below 2GB free with 300-400MB used by Safari's processes or kernaltask.
What software does everyone have installed? Adobe Suite? Apple Pro stuff (Final Cut, etc)? Java stuff like ThinkDesk (Think or Swim) or JDownloader? Transmission? Is FaceTime hooked up to accept calls while it's off? Anyone want to admit to frequenting any sites that may have some kind of mac viral deal we don't know about (hey I'm in no position to judge, trust me)?
I wouldn't be surprised if it's some piece of Adobe garbage that's doing it...that suite scatters files all over your computer that send data back to it from like 3 dozen angles...LilSnitch got a workout.
I also wouldn't be surprised if it's something that all the unibodys have, like the graphics switching (but you think a leak like this would have come up during the beta testing).
Gestures...external hard drives (FW800?USB?)...SSD boot drives (OCZ? OWC? OEM?)...etc.
What do we all have in common guys? List it out.
(Especially if we all have SSDs of some kind as the boot drive in the affected computer. Perhaps Apple did something different with the swap file w/ SSDs or something. I don't know how to check that besides running 'top' in Terminal and watching the copious paging when it gets down below 100MB free.)
Thanks much