One more thing… Turns out that not only did Lion deprecate Apple Filing Protocol (AFP), it also ‘upgraded’ Server Message Block (SMB) services to their own Apple version of SMB which differs from the open source version based on Samba. Making older SMB connections no longer possible. In the case of my Buffalo TeraStation HD-HTLG/R5, that Lion upgraded to an Apple version of SMB is the problem.
There is a workaround for this too.
You can deprecate Lion’s SMB protocol back down to Snow Leopard’s level using the following command. Unfortunately, it needs to be run in a terminal window everytime Lion boots:
sudo sysctl -w net.smb.fs.kern_deprecatePreXPServers=0
To restore the smb protocol stack back to Lion’s original state either reboot or run in a terminal window:
sudo sysctl -w net.smb.fs.kern_deprecatePreXPServers=1