I tried it out. It comes up with
Attempting to boot in 32-bit mode does nothing for me.
I think the boot.efi may be the portion that is blocking it. I do know that the Finder and some of the Core Services included in Lion retail are 64-bit only. There is a project called "Roaring Core" that supposedly, has a working distro of 10.7 for original 32-bit Core processors but they warn that upgrading will break it. I think that they may have simply made a hybrid of DP packages with the retail release to have 32-bit binaries for everything.
Code:
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This Version of Oac OS X is not supported on this platform!
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Reason: Unsupported 32-bit-only CPU
I think the boot.efi may be the portion that is blocking it. I do know that the Finder and some of the Core Services included in Lion retail are 64-bit only. There is a project called "Roaring Core" that supposedly, has a working distro of 10.7 for original 32-bit Core processors but they warn that upgrading will break it. I think that they may have simply made a hybrid of DP packages with the retail release to have 32-bit binaries for everything.