That "even reinstalling Lion" part is kinda misleading, though, without mentioning that high-speed Internet is required for that particular function.
According to Pogue, it isn't ... unless your hard drive is totally kaput and requires replacement. (And that's where TM comes in.)
Given what I said, I thought you might change your mind, since I thought Lion installed a copy of itself onto Recover HD. I went back and re-read Pogue who appended a note that 'it requires an Internet connection and a lot of patience.' In other words you're right.
