Select File/ Save As and you are given four file format options to choose from. From there, hit the Save a Copy box on the lower right and all of the format options are now available. Certain ones of course, will save the layers and alpha channels. Delete 'copy' from the file name and save.
Thanks for pointing out that extra button Gary. I call that the "oops" button. All it does is jump to the Save a Copy screen that could have been accessed directly from a Keyboard Shortcut or File > Save a Copy.
I think the real issue is that without much explanation of benefit, Adobe introduce a change in workflow for everyone and change (even if a change is good) is often met with resistance especially when its just dropped on folks. It does mess up workflows and I bet it messes up some Actions and Scripts as well.
The change does not bother me yet can see how it can bother others.
There are workarounds to use the old interface in Preferences and shortcuts with the "oops" button as sauve.
With the origins coming from a change in Apple API (not sure Adobe had a choice) there is always a reason behind it and I have not evaluated if Apple made a good choice or not.
Apple did something in the past of that nature of a change in their API that I thought was a good choice even though it was a pain. You used to be able to cut and past files in Finder. Now, they don't allow "cut" and the default is to copy, then paste, then go back and delete the originals.
They did this to reduce the likelihood of file corruption loss. If the system died in the middle of that operation of doing a cut and paste. Files could be cut and the paste not completed and files permanently lost and depending on users having a backup somewhere.
I would rather Adobe had sold the advantages of the changes to their users than my impression that allowed it to come across as Adobe saying it was "Apples fault."
Just some musings
John Wheeler