Make sure before you install it you follow the instructions here to burn a bootable copy on DVD for emergency use to save having to download 4.5GB a second time.
I just bought Snow Leopard for my iMac yesterday to prep it for Lion. Like Phil though, I’ll wait at least a few months (probably more like six) before I update my DJ laptop.
I’m using Lion with Virtual DJ Pro 7.0.4, and I’ve had no problems to report. There’s really no reason to update from a DJ perspective – just for the new bells and whistles that come with a new/updated OS.
I’m running Lion with Traktor Pro 2 and it’s flawless. Traktor’s recent update has ironed out a few bugs, too, and everything seems to run more smoothly.
Lion is solid with Itch. People were having problems with it pre 2.0 – especially with it not recognizing after the laptop went to sleep, but I have yet to have an issue.