Chimera Boot USB

Tony has a blog about installing a Chameleon USB rescue drive from back in February 2011. http://tonymacx86.blogspot.com/2011_02_01_archive.html

Does this method still work with Lion and Chimera? I'm curious, because of how the /Extras folder has basically gone away, and I wanted to know if I can still create one and be able to keep my custom kexts that are now in the S/L/E folder.

If it does, do I have to do anything different?

FYI: The method still does work to create a boot USB. My USB Rescue drive does have all the proper kexts to boot, so far as I can tell. I should now be able to create a clean install using the USB to boot back up after install.