So I have done a clean install of Lion on my D520. Used MyHack method with extra from this site.
Running EDP 2.1, I ended up with a functional system, but I still had no ethernet as was the case with snow leopard.
I then removed the dsdt, reduced the /Extra/Extensions Kexts to a minimum (FakeSMC, etc.)
Booting, the system with the default of 32 bit was not good. It came up with a dark screen - I believe it booted, but did not have any video display. However, booting in 64 bit was more successful - though I had no keyboard or trackpad. Using USB Mouse and Keyboard allowed me to mess around with the system. I also had an ethernet connection AND a wifi connection. So that was in some ways an improvement.
There is a package on kexts.com for 32 bit 64 bit ps/2 keyboard and track http://www.kexts.com/downloads.php?do=file&id=1448. Installed these and away I went, trackpad, keyboard, sound installed fine - all in 64 bit. Sleep does not work, but that's not a biggy for me since I have specific uses for this machine that do not involve sleep.
I dumped the DSDT (A05 bios), cleaned it up, patched it for GMA950. It seems to work ok on the system though I do not know how I would tell how well it is working.
Updates on Lion have gone very well. Not an issue. Hope this helps someone.
M.