I certainly hope there is a quick 10.7.1 bug fix release. And that one of the fixes takes care of Time Machine's incredibly slow incremental backups. It takes 15 minutes or more on my MBP via Wi-Fi to a Time Capsule even when the machine is quiescent. That's with several apps open but no interaction with the machine at all.
The first Time Machine backup after upgrading to Lion took overnight. Two or three nights, actually. Meanwhile, Carbon Copy Cloner only takes a few minutes to do an incremental backup of the entire drive to an external USB 2.0 disk.
Apparently iCloud will incorporate some kind of incremental backup that doesn't involve a massive search through the entire disk every hour. And I hear that 10.7.2 just might have that iCloud backup. I can't wait.