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gesture just isn't as convenient

you have to pinch outwards using your thumb and three other fingers. it takes a while to get used to and isn't so easy to do at first.
 
You may be able to configure it so that a four finger swipe upwards does it again. I don't have lion yet, so I don't know for sure.

If you enable active corners, and set one of the corners to trigger this action, you can reveal the desktop by moving your mouse cursor to a specific corner of the screen. Mine is bottom right. Works good for me.
 
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