Referenced Vs. Managed work with Photoshop editing

How Referenced Vs. Managed work with Photoshop editing

1) My photos are saved on a local hard drive

2) IF, When editing with Photoshop i like to save over the original since i never like the original to begin with.

3) Any I make other light changes like filters I do not save over the original.

Where do the Photoshop edit versions go. i tried playing with just one Folder. Imported one folder as managed and one as referenced..... and can't find the edited version? Am I saving it wrong? I tried TIFF I tried Jpeg…..

Also when i imported the folder as a managed file i still saw the original folder under "pictures" does that mean it's on my hard drive twice, once in Pictures and once in the Aperture Library? That would take up too much space.

Thanks in advance, Orly