The latest rumour has Lion and new MacBook Airs pegged for release as early as Wednesday morning.
This information comes from AppleInsider who claims their source is very reliable with a proven track record:
According to people with proven track records who would be in a position to know, the new product launches are set to occur later this week. Specifically, one person said the products would be released on Wednesday at 8:30 a.m. Eastern.
The latest details align with what AppleInsider was told earlier this month, when it reported that new MacBook Air models with backlit keyboards and Thunderbolt ports would launch the week of July 21.
This reaffirms what we our report last week that Lion will launch this week along with MacBook Airs. These new MacBook Airs are said to have backlit keyboards, Thunderbolt, 128GB and 256GB SSD options, and updated Sandy Bridge processors.