Yea I still have no issue with the clone becoming lex if that is what going to happen. Has been done in comics. Plus the clone has all of lex memories/emotions/developments. So he is lex. I don't see why that's a bad way to go. It works for the show.
Fixxer actually that news is old. First cbm/supermanhomepage were talking about this a few days ago. But the article they cited was quoting old information from that assignment x. Brian/kelly interview which ksite revealed was taken during comic con time frame. As for michael returning sure its likely slime chance. But I wouldn't rule it out totally yet. Since filming for the finale wouldn't happen to april and there is plently of time for things to be settled.
Plus with that information being old. We have no clue what is really going on right now. I still think he is likely to show up. Would be foolished to do the aging clone storyline if michael hasn't made some sort of deal. But only time will tell if michael is back. Also like I said before and others too. Even if a deal was in place already they might not want to reveal it offically to closer to episodes appearance.
Someone finally says it!
In the comics Lex is Lex is Lex. He was dying of cancer and he used cloning technology to grow a new body around his healthy organs. At the end of the day the original was stil alive and kicking.
What Smallville is doing is saying that the original Lex is dead and gone but not to worry, we made a copy!
It would be like if Clark died at the end of the Doomsday story and they came out and said "Don't fret, y'all, we made a backup! He even has all of the original Clark's memories!" and they trotted out a new Clark and everyone went "Yay!" as the puddled up remains of the old Clark steamed in the background.