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Duplicating a file now:
1. Immediately lets you choose a name for the new file (see shot above)
2. Immediately saves it to the same folder as the original file, either locally or on iCloud
This is awesome, totally making the "Duplicate" much slicker and more immediate. This makes a duplicating much more useful, and really reduces the mental clutter of having yet another document hanging in limbo before requiring the naming and filing action of a "Save as" later.
Even newly created documents are filed immediately! Try creating a new document in Text Edit and notice it gets the saved icon as soon as you make an edit and it pops into ~/Library/Mobile Documents right away.
Thumbs WAY up!
Interestingly, the behaviour for New Document may suggest that iCloud appears to be the default storage for stuff. Hit Cmd+N in an app, and that document is immediately in the cloud, without even naming it or saving it once... interesting direction things are going.