So you guys know that Apple has released their official external Recovery/Installation disk making utility. This new mac application will let you create external Recovery/Installation disks in couple of easy steps. If you want to make Recovery/Installation disk of mac OS X Lion you can follow this guide.
Still not as useful as the Lion USB maker that another person has made.
One disadvantage of this is that if your computer came with 10.7 Lion, then the USB made ill only be used for the computer that you created with, nothing else.
If you upgraded from 10.6 Snow Leopard, then the USB key can be used with any other Macs that has been updated from Snow Leopard to Lion, not with computers that came with Lion. Source
