Each computer on campus is connected to a user directory, so students can login to any computer with their individual student account. I'm assuming that Lion's multiple login feature will work with networked accounts.
Perhaps, but it's not going to work well to have 100 students logged into the same computer. I think the home example given in the article is a much more likely outcome than a university setting.
That's true, it may have to be limited to 10-20 simultaneous logins at a time (or whatever the machine can reasonably handle), but that is still better than 0. Considering my university has a relatively small student body, this would be definitely be a sufficient solution for us.
Anything has to be better than Microsoft's "Call Our Account Manager To Have Them Explain Appropriate Volume Licensing - Oh You Bought Something Slightly Weird Let Us Pass You Through To The Next Guy Up Who Might Still Fob You Off" licensing methods.