How do I "save as" in preview with the new versions feature?

It is automatically saving the file to the downloads folder and I have to find it in finder in order to change this.  Is there an easier way?

Having upgrading my laptop to Lion and discovering that along with Auto Save and Versions comes the elimination of the Save As command and the inability to turn these new features off I will be reinstalling Snow Leopard and definitely not upgrading our household's other machines.
The new scheme is cumbersome in it's insistence that I duplicate the document to give it a new name.
I do not like the idea that previous drafts are accessible from inside the document by anyone who might access my machine.
I do not like that new versions are created and saved without my say-so. I do not like that I am not asked to save/discard changes upon quitting.
In short, the 248 great new features provide me little reason to upgrade but the 249th and 250th features are deal-breakers. Until they can be turned off I will not use Lion.

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