We were told that faxing would not be possible in 10.7.4, because PPC and 32bit is no longer supported,   but I found an easy solution.  I had purchased a ZOOM 56K V.92 USB #3095 External Modem (Windows, Mac, & Linux) while still using Snow Leopard.  I needed to fax something today, and I read that perhaps USB modems will still work.  It does.  Here is the procedure.   Go to File>Print  and then choose Fax PDF from the dialog box:

Then this dialog box will appear and you can use your address book or type in a number and add a cover sheet if you wish:

You cannot seem to print from Adobe’s Print dialog interface, so if you wish to print a PDF file, you will need to open the document with Preview and not with Adobe Acrobat Pro.