You must realize that the Lion install on the new (unreleased-yet) MacBook Airs will include special drivers for Thunderbolt, etc which cannot be found on any Snow Leopard install. Apple may restrict OS compatibility to 10.7+ on the new MacBook Airs. This has been the theme of Apple recently with new machines, only supporting the shipped OS as the lowest # of OS seed supported. For instance, 2010 MacBook Airs cannot support anything less than the special version of 10.6.4 that shipped with them, and the 2010 Mac Pro towers will not work properly unless you use the special 10.6.4 install or later that came with them, due to the Graphics card drivers in that release. Any other installs may not work, or may render your machine unusable.
Interesting enough though, in the old days it was sometimes possible, as System 6.0.7 would run just fine on some of the machines that shipped with System 7. But ever since 7.5 came around, you must use the OS it shipped with, or later (i.e. 7.0, 7.1, 7.5, 7.5.1 will not work on a machine that shipped with 7.5.2) Only that OS or later was supported. In OS X, Apple has not had backwards compatibility with any machines.