Since I first posted my own frustration with the lack of "Save As" I have been so pleased to see I am in good company, although sorry for us all. As a non-techie this is truly a frustrating thing for me. I use my Macs in both home and business environments and I simply move too fast to try to figure out something that was once so very simple.
I am thrilled to see Mountain Lion making a change but I agree with Kurt - a 20 year old simple process has been made just too ridiculously complex. From the industry and, supposedly, company so focused on the user experience this is just nuts! Don't they have user labs to see how users will react to changes???
Like some other posters here I have voiced my concerns to Apple AND I have, very reluctantly, started using the MS counterpart programs. It is easier for me to use the MS programs as I already have enough business issues to sort out to make the time it will take to get used to the Apple programs. Until Mountain Lion comes along, to be sure I do not lose data, I will continue to use the MS programs. I just cannot afford any mistakes.
And, Yvan, I know the new process is all very clear to you and I am happy for you for that. But, clearly, you represent a minority of users who "get it". I sometimes can't even follow your explanations! I am not an IT person, nor should I have to be to be able to use a program that was once so simple.