subsurf smoothing in 2.40 Alpha?

Does anyone know what replaced subsurf smoothing in the new version? I see a simple “smooth” button, but it doens’t seem to act the same…

Blender 2.4 has a modifier stack. Go to the edit buttons, then go to the modifier tab and hit add. Subsurf will be under that menu. The controls should be pretty self explanatory

Hotkey Shft-O will add the modifier.