I bought my MacBook in July, just a week before Lion launched so I got it for free
And I actually burnt Lion to a DVD so now I have Snow Leopard and Lion both (on physical discs).
It took me just 40 minutes to install. Apple says you must have Snow Leopard 10.6.8 to install Lion. Non sense. You can do a clean install too just like I did. Installing Lion over Snow Leopard made my Mac too slow and I started having the shutdown issue as I described earlier. So I did a clean install of Lion by removing Snow Leopard completely.
Here are a couple of links telling you how to make a backup disc for Lion.
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How to create an OS X Lion installation disc | MacFixIt - CNET Reviews
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Egg Freckles | Burning a Lion Boot Disc
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But it sure appears it takes a longggg time to install. It keeps flashing time left and it is any where from a day + 4 hours to 6 hours to 19 hours to ... crazy.
You will face this issue if you are downloading Lion
over the internet directly when starting up. I faced that too.
I wasted nearly 12 hours seeing that message once
Download it from the MacApp Store and make a disc. Then erase Snow Leopard completely and format the HD (after backing up your files obviously) and then perform a
clean install Lion from the disc.
As for bugs with Lion, I have not faced any till now. Its a massive improvement from Snow Leopard so I'd say that those who are stuck with 10.6 or lower are really missing out Lion's innovative features.
In fact, according to me ==> Lion = OSX + iOS
I just hate one thing about Lion. And that is the inability of removing programs from the LaunchPad