It looks like eggfreckles was the first to note how to create an OSX Lion installer disk:

• Purchase and download Lion from the Mac App Store on any Lion compatible Mac running Snow Leopard.
• Right click on “Mac OS X Lion” installer and choose the option to “Show Package Contents.”
• Inside the Contents folder that appears you will find a SharedSupport folder and inside the SharedSupport folder you will find the “InstallESD.dmg.” This is the Lion boot disc image we have all been waiting for.
• Copy “InstallESD.dmg” to another folder like the Desktop.
• Launch Disk Utility and click the burn button.
• Select the copied “InstallESD.dmg” as the image to burn, insert a standard sized 4.7 GB DVD, and wait for your new Lion Boot Disc to come out toasty hot.

This appears to be inspired by blogchampion.