Specifying DNS: Router or PrefPane? OSX Lion (10.7.5). Network preferences has an option to set up (and order) DNS adresses. My router (Bell Connection Hub - Bell Canda) also has an option for specifying DNS addresses. Which takes precedence in ordinary, vanilla browser requests? In other requests? Are there special situations/considerations? Thanks!
If you specify DNS entries in your router's configuration, then any DHCP client of that router will receive those DNS addresses and perform lookups against them.

If you only specify DNS entries on your own Mac, then your lookup requests will be handled in the order listed.

You might want to consider running the excellent and free namebench to find the best DNS entries for your location and Internet connection.