The old method that works for Leopard/Snow Leopard doesn't work any more on Lion:
defaults write com.apple.screencapture location /Users/kamus/Pictures/snap
Has something changed or does anyone have some good workarounds?
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You can also try TinkerTool to accomplish the same thing. I've found that TinkerTool is much easier than having to remember a whole bunch of
defaults write com.apple... commands. It has all of the most useful ones in one place for you to easily change. You can find the screenshot destination one under the General tab:
(as noted by this comment, you don't have to log out and back in again, just use the Terminal command