Yep. I can't see that there is more content in the list this way. The scrollbars indicate 2 things: 1: (obviously) they indicate there is more content, and 2: how much more content there is.
This is really really really important information and the new scrollbars hide this information.
I don't want to move my mouse over everything that looks like it might possibly be scrollable to see if some scrollbars show up indicating that, yes, there is more.
It works on the iPhone and also really on the iPad because you are always touching the screen (or the scrollview) and when you touch the screen scrollbars show for a moment and then disappear if the system figures out you are not trying to scroll. This behaviour just does not work on a larger screen where you are not using touch (ie you are using a mouse or trackpad instead) or other direct input method (like a pen on the screen, no not like a Wacom tablet).
Anyway, I haven't tried Lion yet (will pay and download during May sometime)... and remember: it is still in development. Any developers that are using Lion please submit feature requests for normal scrollbars (even if it is just a Finder preference).