I seem to recall some of the drivers requiring Rosetta which is no longer supported in Lion
Actually, Rosetta was only needed to run the driver installers which were using Installer Vice (Carbon APIs). New installers will need to be released by Epson that use Installer X (Cocoa APIs) at some point for Lion compatibility.
As far as I know, installed drivers should work ok–but we simply don't know yet what's going to happen. Personally, I would only install Lion on a non-mission critical test machine for the first few weeks/months until the issues are shaken out.