  We present c2d Spitzer/IRAC observations of the Lupus I, III and IV dark
clouds and discuss them in combination with optical and near-infrared and c2d
MIPS data. With the Spitzer data, the new sample contains 159 stars, 4 times
larger than the previous one. It is dominated by low- and very-low mass stars
and it is complete down to M $\approx$ 0.1M$_\odot$. We find 30-40 % binaries
with separations between 100 to 2000 AU with no apparent effect in the disk
properties of the members. A large majority of the objects are Class II or
Class III objects, with only 20 (12%) of Class I or Flat spectrum sources. The
disk sample is complete down to ``debris''-like systems in stars as small as M
$\approx$ 0.2 M$_\odot$ and includes sub-stellar objects with larger IR
excesses. The disk fraction in Lupus is 70 -- 80%, consistent with an age of 1
-- 2 Myr. However, the young population contains 20% optically thick accretion
disks and 40% relatively less flared disks. A growing variety of inner disk
structures is found for larger inner disk clearings for equal disk masses.
Lupus III is the most centrally populated and rich, followed by Lupus I with a
filamentary structure and by Lupus IV, where a very high density core with
little star-formation activity has been found. We estimate star formation rates
in Lupus of 2 -- 10 M$_\odot$ Myr$^{-1}$ and star formation efficiencies of a
few percent, apparently correlated with the associated cloud masses.
