OK, I made a test: mounted the recovery HD, put the basesystem.dmg into the Disk Utility and burned it. After mounting the burned disk, I unplugged the Ethernet cable and double-clicked on the Lion installer. Only to get the message: installation cannot continue because you are not connected to the Internet.
Case closed. With dial-up, no way to reinstall Lion with this trick even if the disk would boot the computer (did not check). The installer indeed is not full.


Alex
3.1 GHz 13" MacBook Pro 2015, 8 GB RAM, OS 10.11.2, Office 2011, TimeWarner Cable
2.8 GHz Xeon Mac Pro 2010, 16 GB RAM, OS 10.11.2, Office 2011, LAN