Lion creates a recovery partition rather than a boot disk. Hold down option when restarting and 'recovery' will show up as an option. Many, if not more, features from a boot disk are to be found there - and it is much faster than using a boot disk, for sure. Don't have a direct link to building a bootable disk, but I think I've read it's possible via Disk utility.
John Davidson | President / Creative Director | Magic Feather Inc.