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Clone a volume (Figure 2; Disk Utility can do this, too, but with fewer options);
Perform a surface scan of a hard drive, checking every byte for bad blocks;
Perform a SMART check of a hard drive, confirming that the on-board electronics are working and properly reporting drive health (Figure 3; Disk Utility can do this, too, but with less information on results);
Perform a check of volume directory corruption (again, Disk Utility can do this, too, but with less detailed results);
Perform a check of file integrity;
Perform a memory test of RAM (Figure 4);
Perform a check of video memory;
Rebuild and repair a volume directory;
Defragment a drive (Mac OS X does this automatically, but not with the same manic sense of completeness);
Optimize a volume to consolidate free space;
Recover files from a damaged volume, or in certain cases, from the trash;
Securely erase data (Disk Utility can do this, too, with fewer options);
Enable or disable file system journaling (Disk Utility can do this as well);
Verify and repair disk permissions (Disk Utility does this, too, but with less detailed results)
Scan your local networks, and report on all devices found, their IP address, and what services and ports are active (Figure 5);
Perform a check of your monitor and verification of iSight functions;
Perform a check of your sound system and speech synthesis functions;
Create an eDrive (electronic drive partition that can be used as an emergency startup partition; Lion automatically creates an emergency startup partition);
Offer detailed, exportable reports on all test functions.

I think this is an appropriate moment to once again mention DriveDx.