To akaralias:
Why do you suggest making a GUID partition on the flash disk? You can boot from Apple Partition Map as well.
To Macopotamus:
What is a "fresh" install? These terms "clean" and "fresh" are not shown in any Apple installer screen, so be less cryptic and tell us if you did an erase of the target volume or installed over OS 10.6.
To Macopotamus again:
Simply formatting HFS+ isn't a guarantee of booting. You still need either GPT or APM partition scheme. MBR with HFS+ is useless.
To milo:
Does the license agreement say you can use one Lion purchase for several computers? I think this App Store scheme was intended to discourage that.
To MauiBoy:
There is no PPC code in Snow Leopard. That's why it is 7 GB less than Leopard.
To megamanbnmaster:
App packages do not slow the boot time. The startup process does not load the Applications directory into RAM. This is one of many old wives tales about erasing the HDD that can be chucked completely. There is no performance gain at all from erasing the HDD and installing on the empty drive... except in removing Login Items and Fusion, and you could do that yourself if you don't like your Login Items.... or if you don't like Fusion. It seems a really odd way to speed up the system instead of just not installing Fusion in the first place.
How does this boot disc help? If the OS is working well, you don't need a boot disc. If it is not, you can't necessarily fix it by installing OS 10.7 upgrade over a bad system. Also, you haven't mention if this boot disc overcomes the "upgrade" nature of Lion -- that is, the fact that it cannot be installed on an empty drive; you must have OS 10.6.6 already installed. Isn't that the real secret behind the smaller size: it isn't a full-install, just an updater for OS 10.6.6 or later? I'm curious to know if anyone has used the Lion installer on a bare HDD, such as a new one, without first installing OS 10.6.