Just bought FCE4 and now that Lion is out, will it be compatible ?

I am in the process of getting a new computer too so should I get one that still have snow leopard or will it be  ok with lion?

FCE 4 has been discontinued and was (is) the only version of FCE supported on Snow Leopard. 
FCE 4 may or may not work on Lion - you will be on your own there.  It may work but there is no Apple support for FCE 4 on Lion.
Again, FCE 4 has been discontinued.  The forward path is now Final Cut Pro X, which is supported on Lion.

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