Clean re-install Lion mid 2008 MBA

Question

I have a MBA which I think is 'mid 2008' pedigree. Something like that, anyway. 2GB RAM. 1.6GHz Intel Core 2 Duo. That sort of thing.
Since putting Lion on it, it seems to have slowed down. Spinning beach balls all over the shop.
I've done all the usual stuff, permissions etc.
So here's the thing. Is it worth my doing a complete clean re-install of Lion? The sort that deletes everything on your laptop (I've backed it up already.)
Doing this is a bit of a chore, but I'm sure I can figure it out. Just I don't want to do it unless it's likely to achieve the result I want - i.e. a slightly less clogged-up MBA.
Ta.

Answer 1

To answer briefly.
On the short term: yes. it will make it faster.
On the long run: no. It will slow down again once you give it some use.
Lion is slower than Snow Leopard on these models, it makes them run hot, beachball more often and shaves around an hour of battery life.
Cheers