I'm not sure what word processing software you've been using for the past decade, but periodic backups and automatic restoration is more or less the norm, now. Heck, even my code editor persists unsaved buffers between sessions.
I think the last time I lost unsaved work in a due to a program crash was probably last millennium. That's the root of my surprise here; there are proven solutions that don't break existing workflows. Why did Apple decide to break them now?
Huh?
Word and Open Office have been recovering crashed documents, including unnamed, never-saved-documents, for quite a while. When that happens, it is a little confusing since you have to overwrite the existing document with the later version. But it also only occasionally happens whereas I often use the save-as functionality.
The problem with "Duplicate and Save" is that it implies that saving is an action that you can take, rather than something which has already happened. As arrrg said, that's not true: in Lion apps, every document which has a name is always saved. There is no longer a state of "changed but not saved".
Change the label to "Duplicate and Save" and us old folks, trained for thirty years to be constantly seeking and pressing "Save" lest we lose everything, will be complaining that there's no way to "Save" without also "Duplicating". Which would not promote understanding, either.
Don't worry, if you and the OP miss the old world of unsaved documents you can always find some old-school applications that preserve the old behavior. Join us Emacs users in the land of hoary UX paradigms! ;)