I don’t get Launchpad. It may be a cool feature if I didn’t have the most often used applications already in the Dock. As it is, the feature set seems a bit duplicative. If you have an iPhone or iPad, you should already be familiar with the UI–drag related applications on top of each other to create folders.
By default, Launchpad displays all the application icons in grid format in alphabetical order. And, when I say all, I mean all, including rarely used utilities like ColorSync Utility, Dictionary, Java Preferences, and Boot Camp Assistant. It will take some organizing for Launchpad to be useful.
Mac OS X Lion marks the end of Rosetta, the transition technology that allowed Intel Macs to run PowerPC applications. After installing Mac OS X, I took a peek at the Applications folder. If you have been migrating all your applications from computer to computer over the years, you may have some Power PC applications, such as Internet Explorer, sitting around unused on the hard drive. Now would be the time to clean up the computer because clicking on Internet Explorer (which now has a slash through it) brings up this warning: