Can any settings reduce or eliminate the Mac OS X Lion Jumping Cursor Bug?
This blog post mentions turning off mouse acceleration as a solution:

http://incredimike.com/blog/2011/08/os-x-lion-causing-a-jumpy-mouse-movement/

He supplies links to a command line script and an app that'll do it.  I haven't tried it as I'm hoping Apple fixes this before I feel like I need to muck with hidden settings.