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Mac OSX Lion 10.7.2
Apple released 10.7.2 yesterday. This update fixes the problem they caused with the Media 100 i codec, so if you held back from Lion because of that issue, you are free to use it now. Remember that all your other software and hardware must be Lion-ready.
They have not fixed the codec problem in 10.5 or 10.6.8, and we don’t know when or if they will.
(The Media 100 i codec problem causes “bad frame” errors and black video playback for NTSC 601 media.)
Media 100 Suite v2.1 is the only release compatible with Lion.