It did on my system…And that is before installing any 3rd party plugins…
Read this, with official statements from Steinberg:
Hugo
6.0.2 will work too. There are some minor issues and we will populate the mentioned KB article tomorrow with some more information. Currently, older HALion versions and its derivates and Nuendo 5.x won’t work or won’t work properly but it looks good for Cubase.
Thanks Chris and Eckhard for the excellent communication, much appreciated. 
+1 (or 2)
Hugo
Perfect answer 
) Thank you!
Didn’t mean to be caustic… sorry. You were right to ask, and indeed, the answer makes me a less grumpy camper!
No worries!
Regarding downloading Lion and making an install DVD
After purchasing the app, the Buy App button changes to “Installing”.
The Lion installer app is downloaded directly into the Applications folder. It appears in the Dock with a download progress indicator. Once the download is complete, the installation begins.
At this point, quit the installer. In other words, interrupt the install process before it can begin. Locate the installer app in the Applications folder, right-click on it, select Show Package Contents. Inside the ‘Contents’ folder is the ‘SharedSupport’ folder which contains the Lion Installer: 'InstallESD.dmg".
Option-drag the 'InstallESD.dmg" on to the desktop. Open up the OSX Disk Utility, and select the Burn button. Choose the 'InstallESD.dmg" on the desktop. Insert a DVD. Minutes later, you’ll have a Lion installer.
I was able to select my freshly burned installer disk in Start Up Disk preferences and successfully install Lion on a clone back up.
Some interesting but promising comments about Cubase 6 and Lion here:
http://www.analogindustries.com/blog/entry.php?blogid=1311179234610&pg=2#comments
Long story short: It seems to make sense to just be patient and wait for v6.0.3
Upgraded anyway . Everything seems fine with Cubase 6. I have a trial of cubase elements too (evaluating for dongleless operation). Runs fine as well.
Addictive drums is fine too.
All this at first glance. Will report back if heavy probs…
Hugo
Oh yes:
Config: standard last gen (2011) macbook pro 15 inch standard bought in june. Line6 UX8 audio interface, m-audio key station 61 ES.
I’m up to Lion with no issues so far
Mac Mini 2011 Cubase 6.0.2 Presonus Firestudio Project
Reality check here. Besides the new stuff in Lion that they would have to analyse for what it may affect within Cubase, there is the thousands of tests they would have to run as part of their regression test suite to make sure other stuff isn’t broken. It would take weeks even if they didn’t have to change a thing, just to be sure!
And there will still be little things that will not work as they did before.
Thank you for posting this. 