Can I install Lion on a USB drive?

I have a situation where a person running SL on her Mac requires Lion or later for a half hour once every two weeks to run a webinar.



The webinar software no longer runs under SL and Lion or later will break other applications on her Mac.

We discussed this issue in a previous thread here....



Now I thought I could come up with a simple temporary (as long as required) solution.

Install Lion on a USB drive, boot up on that USB drive for the half hour every two weeks to run the webinar,otherwise continue with er current Mac untouched.



So I tried to installLion on a 32 GB USB drive - things seem to go well except that the install took forever - it semed to stall, time remaining was way off.

To go from 11 minutes remaining to 6 minutes remaining took the better part of an hour rather than the expected 5 minutes.

So I finally aborted since I needed the Mac for other purposes.



Question:

Has anyone done that - install Lion on a USB flash drive?

Does it work in the end, ie can I boot up on it and access the net?

Is the slow install only due to the USB 2.0 interface?

I realize that USB 2.0 is about half the speed of FW400 but the speed at which that install was completing was ridiculous.

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