Just read this in Hacker News.  Gezz.. I think I will have to keep a much closer look at OS X 10.8.  Heck, I have not even written about the battery issues yet.    Ok, check this out….

OS X Lion 10.7 removed the Save As command; see Save As Command Forces Multi-Step Workaround, Data Destruction.

To use Save As in OS X Mountain Lion 10.8, hold own the option key for the File menu or command key shortcut cmd-option-shift-S in Pages for example.

But use of Save As is not recommended in general, see below.

Goodbye to your original version

If one edits a document than does Save As, then BOTH the edited original document and the copy are saved, thus not only saving a new copy, but silently saving the original with the same changes, thus overwriting the original.

If you notice this auto-whack, you can “Revert To” the older version*** (manually), but if you don’t notice, then at some later date you’ll be in for a confusing surprise. And maybe an OMG-what-happened (consider a customer invoice that was overwritten).

And recovery of the prior version is an ‘if’: IF the older file versions are still secreted away somewhere.