Looks doable, and many thanks. My MBP has Snow Leopard, so this should work. It does seem that Apple needs a more elegant solution.
Believe me, this entire sitch has people banging heads on their desks wondering how Apple can be so daft about the release.
The main issues are:
1) People without Snow Leopard can't upgrade easily
2) No installation media means you need to install Snow Leopard before you can upgrade to Lion (the workaround I posted helps, but isn't "official")
3) On Macs that will come with Lion, there will be no separate install media, so if you lose your main hard drive you are SOL unless you create restore media yourself (again, "unofficially". Apple doesn't provide a point and click way to do it)
Whereas technical users like myself will come up with workarounds, this is going to infuriate non-technical users who just want to get their system reinstalled, and would previously just boot from the restore disc that came with their Mac.
It almost makes it feel like Lion isn't really a "full" OS release; more of a for-pay service pack for Snow Leopard. Lame, lame, lame. Apple would become at least 20% cooler if they just put a "Burn Lion install disc" button into the Lion install application.