Possible to downgrade

[tbluhp]

Wirelessly posted

Is it possible without reformat and reinstall to downgrade from 10.8 to 10.7 without having the need for system format and restore?

 

[maflynn]

No, your only option is to reinstall the OS

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Many people who loaded Mountain Lion have opted to clone their existing drive for back up purposes or creating a second volume for the beta OS

 

[andrewlee]

Yes, if you have a Time Machine Backup, you can simply recover to the point just before you instal MLion.
My suggestion would be you running the recovery partition and reinstall lion, no file will be deleted anyway.
oops, sorry, didn't read your post clearly