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Lion really isn't too big of a deal if you do not have a multitouch input device. Stick with the white cat.
 
Yes, that is the case. Lion works in Core Duo
Macs with the minor hack though.

I might be wrong but I think this only true if you upgrade the Core Duo to a C2D. Lion is now 64 bit only. It can run on a 32bit kernel and EFI but since Finder is 64 bit you are going to struggle with a 32 bit Core Duo cpu. DP1 ran in both 32 bit and 64 bit mode but Apple took out 32 bit support in subsequent releases.
 
so I believe that the CPU was falsely advertised as a Socket M CPU and is actually Socket P. I will be returning it.
 
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