Creating a bootable OS X 10.7 install disk

As i was looking into imaging some new iMacs, I came across this article on how to create a mac bootable 10.7 disk. Simple procedure really:

1. go into recovery mode (command + R)
2. plug in external drive
3. reinstall mac os x
4. select external drive to install on
5. after it has finished downloading, and has gone to a black screen, unplug external hard drive.
6. the file InstallESD.dmg will be on the external. This is what you want.
7. load up disk utility and restore this image on a volume
8. done