I can confirm that AppleRTC.kext 1.3.1 from 10.6.8 works with 10.7/10.7.1 and takes care of the CMOS issue on my z68X-UDH3-B3 with a DSDT installed.
I have a Z68X-UD3H-B3+MSI 9850 Cyclone+16Gb RAM. I have a perfectly working Snow Leopard in one partition (sleeps working flawlessly except autosleep). I then had a try installing Lion on a separate partition, following tonymacx86 xMove method.
Under Lion I was experiencing the expected CMOS reset and sleep not working (blank screen, fans and LEDs on)
I then patch Lion AppleRTC like this
sudo perl -pi -e 's|\x75\x30\x44\x89\xf8|\xeb\x30\x44\x89\xf8|; s|\x75\x3d\x8b\x75\x08|\xeb\x3d\x8b\x75\x08|' /System/Library/Extensions/AppleRTC.kext/Contents/MacOS/AppleRTC
Now CMOS reset is gone. But sleep is not yet quite working. I can sleep the machine once. Upon awakening, I loose the USB keyboard (Apple Aluminum wired keyboard) no matter which USB port it is attached to. Also, the machine sleeps only once, the second time an further it just blank the screen with LEDs and fans on.
Am I missing the addition of any Kexts? I am using a DSDT patched from my system under Snow Leopard with Mald0n's DSTDPatcher and I have the following kexts under /Extra/Extensions:
Besides that, just the installation of Realtek drivers under /System.
Any clues? No sleep is a dealbreaker to me.