I went through a lot of trouble trying to do it this way. In the recovery partition, whenever I tried to reinstall Lion it would take at 6-8 hours for the progress bar to advance 25% (although it constantly displayed a little over 5 hours remaining), and when it got there it would display the message, "Can't download the additional components needed to install Mac OS X."
I did this because the guys at AppleCare told me to. I tried it four times with the same results. One time I reinstalled Snow Leopard and downloaded a fresh copy of Lion, but still got the same message. Since all the installing and downloading was so slow, I my computer was held up for over two days.
I finally used my dad's flash drive and booted from that, and I was running a clean copy of lion in under three hours.
Despite my warning, I would be very interested to hear if the same error is common when you try to reinstall Lion via the recovery partition after erasing the main part of the disk.