2 App Store Account

Yes. It would be easier though to download it once and then copy over your installer to her computer.

 

I'm in the same boat. I'm correct in saying that the MAS just handles the installer, and the 10.7.1, .2 etc updates are done via Software Update?

 

Yes.

 

When the updates are moved to being performed by the App Store, that's gonna change things. I foresee your App account being tied to the Apps and Lion downloads.

 

Hey guys, I can totally understand you, but Lion is only 30 Bucks and actually youre not allowed to copy the OS to multiple Users with different Accounts.

Just think of it like this: If you buy an OS, lets say the Micro$oft one, you have to pay 100$-500$ for just ONE License depending on the Version. Here you get 10 Licenses for all your Computers. For just 30 bucks!
I think that 30$ is just enough so that Apple doesnt loose money with Lion and get back the development costs.
If people copy Lion for each and everyone of their friends, like they talk about in other threads instead of buying it Apple will have to make make future Updates more expensive.

Just be happy that Lion is cheap and does not have any annoying copy protections and dont push it to the edge.

Just something to think about.