I will have to test software on lion, but I'll just dedicate a partition and drop into it when necessary.
The worst thing for me was Mission Control. I miss the proportionately-scaled windows of Tiger(?) Exposé, but I utterly refuse to completely disrupt my flow with the clusterfuck that is Mission Control. Re-fuse.
I'll freely admit that I'm on a Mac Pro in a sea of laptops, but I have work to do, and it's just easier in Snow Leopard than it is in Lion.
Snowpard will continue to work without being a liability for probably the next 12 months, at least.
Giving up on Lion isn't a moral failing. Give the pioneers some time to absorb the arrows. By next March, I'm betting that (suitably tuned) Lion won't be anywhere nearly as annoying as it is today.
My Mac Mini on Tiger is still seeing updates for iTunes, so Apple seem to be supporting older stuff at least partially.