I recently upgraded to Lion. I also installed Microsoft Office 2011. In Spotlight, how do I now find in which folder a document is? It used to be that hovering the mouse over the doc would show the folder. I miss that functionality!
You might want to try the following:
This should open the file's containing folder, and works in all recent versions of OS X.
Hold option and command for a second. It'll show you the path. Well, part of the path. It's really not as useful as it used to be.
Other than that, command-R will reveal the original file, just as with the previous version.
And, of course, you can Show All In Finder. If you have the status bar showing, it should show the path there as well. (And in a slightly better form.)