After getting used to the incompatible apps (found some workarounds for them for now and also contacted the developers and they all promised an update shortly after Lion ships) and also getting used to certain things working slower, although certain things working faster, this OS does indeed work.
I should warn people again though, it does not install on RAID0 nor does Disk Utility support verify/repair any RAID0.
So if your boot disk is RAID0, prepare yourself to change it if you want to migrate to Lion.
If you want to keep using RAID0 as your boot disk, this is what you can do. You install Lion on another partition, and then restore is using Disk Utility to your RAID0.
This is not recommended for 2 reasons. First, you don't have recovery partition, because restoring does not create it. Only the install process does create it.
Second, you can't use File Vault on RAID0 disks.
At this point I think it's not a bug, but a missing feature. They probably couldn't get around the recovery partition creating on RAID0 disks so they scrapped them totally from install process. This may be available later on.
I should warn people again though, it does not install on RAID0 nor does Disk Utility support verify/repair any RAID0.
So if your boot disk is RAID0, prepare yourself to change it if you want to migrate to Lion.
If you want to keep using RAID0 as your boot disk, this is what you can do. You install Lion on another partition, and then restore is using Disk Utility to your RAID0.
This is not recommended for 2 reasons. First, you don't have recovery partition, because restoring does not create it. Only the install process does create it.
Second, you can't use File Vault on RAID0 disks.
At this point I think it's not a bug, but a missing feature. They probably couldn't get around the recovery partition creating on RAID0 disks so they scrapped them totally from install process. This may be available later on.