Yes folks, the shorcuts for partial volume and brightness are back in 10.7.4! After users had grown to love and know Option-Shift-Volume Key and Option-Shift Brightness Key in previous versions of OS X (10.4, 10.5, and 10.6), Apple yanked the rug out from under users with 10.7. Well, now 9 1/2 months later they are finally back. Rejoice.
Now start filing those bug reports for the insane amounts of inactive memory being used and not released to Free… :/