Anyone know if Adobe CS4 Design Premium will work with Lion?

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Now with everything going to the icloud, I guess I HAVE to upgrade to Lion. I do not have an extra $1000 to spend on the CS5 upgrade (especially with CS4 is working just fine for me) but I am afraid if I upgrade to Lion I will have to upgrade to CS5. Does anyone know if there is anything special I need to make sure I do before the upgrade? When I went to Adobe's site it said to make sure I have Java Runtime installed (JRE) which I do. Is there anything else I should do before I proceed with the upgrade?

Most of my other apps are not important but I HAVE to have CS4 since I am a freelance Graphic artist.

Any help would be greatly appreciated. Are there any major GOTCHAs I need to be aware of after the upgrade?

I do have a current TimeMachine back up, but I have never had to use it so I am a little afraid to rely on it.

CS4 works fine on Lion for me, though I am thinking of upgrading to CS5.5 before 6 is released since they won't have a CS6 from CS4 upgrade available. The CS5.5 upgrade for Design Premium costs around $500.