I was very excited to learn that Mountain Lion had brought back the calendar pane in iCal, since I was not going to upgrade my work Mac to Lion because of the many removed features to iCal and Mail. So, I install ML on my home Mac, only to discover the calendar alert snooze had been "dumbed-down", as another poster appropriately called it.
It's one thing to strive to bring iOS and OS X closer together in terms of a consistent look/feel - it's another thing entirely to strip usefull features from a fully featured desktop application. Shouldn't we expect more features and sophistication in our [desktop] operating systems as they mature, and not less...? As a software developer myself, I know from experience that my users want *more* with each new release - more robustness, more features, more control over customization - and yet Apple is doing the opposite in many cases. Mail and calendar applications are the workhorses of most people, with countless interactions with these systems daily, so even the slightest change in workflow can amount to a hugely frustrating experience in a short period of time.
I sure hope either Apple listens to it's users and fixes this with a patch, or someone comes up with a hack quickly.