I have MacOS X Lion running on a 30 inch Cinema Display. If you have the latest Xcode, you can use Quartz Debugger to enable it. What it does is allow you to run in a sort of retinal display. In my case, it turns my 2560x1440 to 1280x720 but with very high DPI. It looks absolutely gorgeous and is exactly what I think most people have wanted out of their high resolution displays all along.
Apparently, new Macs coming out this year are going to have screens that do crazy high resolution (2880 x 2400 for instance) so that users can run them like they would at 1440x1200 except for having everything be super sharp.
I have to say, it is a really great experience to see text and the UI this clear. In fact, it's going to be hard to go back to any other type of display.