In OS X Lion how do you restore the three-finger left / right swipe gesture to go back and forward?
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Go to System settings → Trackpad → More gestures → ensure Swipe between pages is enabled, and change the option to "Swipe left or right with three fingers"
If you haven't already, you may need to change the Swipe between full-screen apps option from three fingers to four.
Of course, you can leave it as and get used to it, but where's the fun in that?
I'd also suggest getting BetterTouchTool. It's a great utility for extending gesture support. I thought it would be put out to pasture with Lion but it still has a place. I've set up a few extra gestures:
Click bottom left/right - enter/exit full screen mode
Safari & Chrome
3 finger swipe down - scroll to top of page
3 finger swipe up - scroll to bottom of page
Tap bottom right - switch 1 tab to the right
Tap bottom left - switch 1 tab to the left
4 finger click - New tab
I think that function is currently broken but I have managed to activate it by going into the trackpad settings and then more gestures and ticking the 'swipe between pages' and chosing the drop down option of 'Swipe with two or three fingers.' Now the 3 finger swipe makes web pages go backwards and forwards again.