Wait, why would you need new hardware? I just installed Lion on my late '08 MacBook and I'm planning to do the same with Mountain Lion. Granted, I got a RAM upgrade after installing Lion, but that was necessary since Snow Leopard and probably just a sign of me using my Mac differently than I did my PC, with lots of open apps at once.
As for the dozens of pages of not-automatically-ordered apps and the sandboxing, I'm pretty sure that's not how it'll work - you can still keep your old ways of accessing apps, no need for using Launchpad, and the shared file system isn't going anywhere either.
I agree that I don't have to use Launchpad. That's not an issue for me. I'm safely ignoring it now on Lion.
I upgraded 3 Mac minis to 2 GB of RAM in order to install Lion. These upgrades were relatively modest cost but I really should be able to get a few years' use without breaking out the checkbook again. This time I can't "upgrade" I must replace the machines and the old ones will have diminished value just like the pre-intel Macs began to have diminished value when Snow Leopard came out. In my case, I foolishly invested in SSD drives for the minis I upgraded and now I'll probably never recover the extra money I spent as those computers are rendered undesirable because they won't support Mountain Lion. I also upgraded my Macbook with a hybrid SSD and 4GB of RAM. I didn't have to in order to run Lion but I'd like to enjoy more than a year of ability to run the latest OS after spending over a hundred bucks per machine on upgrades whether they were necessary to run Lion (in the case of my older Intel minis) or not (in the case of my Macbook).
Apple practically has a license to print money these days so having two waves of "hardware bullying" only one year apart sounds almost Microsoft-like. I'd like to see an analysis of the issue that requires the GMA3100 chipset to be excluded from being able to run Mountain Lion. A small voice suggests to me this is more about pushing hardware sales than performance.