Here's my situation: I have the new iPhone 4S which is using iCloud beautifully. However, my MacBook is still using MobileMe. When I go into System Prefs > iCloud, it has a big button that says "Click here to move your MobileMe account to iCloud."
When I click that button, the browser goes to me.com/move, then I log in, and it immediately redirects to me.com/find and then a screen appears saying "Ok, you're all set, you may now start using iCloud."
Except... I'm not. When I go back to the System Preferences > iCloud, it still has the "you need to move from MobileMe" screen and the button to start the transition. And I am 99% sure that my contacts, calendar etc are not syncing with iCloud, so I can't get them on the phone (that's a problem).
So... the phone is all set on iCloud, but I need to tell Lion to use it. I assume the me.com/move web page someone would send a message back to Lion saying "ok, this user has made the transition, now you can show the 'real' iCloud preferences panel," but that hasn't happened.