Passcode lock in Lion

I just got my first MBA 13.3" (and first upgrade with lion)

I was wondering if it is possible to change the passcode settings (I´ve seen some of the settings)

In other words: Is it possible to change the settings so that the passcode never turns on untill I physically close the lid?
I want the battery save feature that makes the screen go black after 1 minute or so while inactive - but I don´t want it to request the passcode again.

Thanks for any help!