The Options from the pulldown were intentionally removed, along with the limited set of functions available on the toolbar.
The dropdown list of analytic functions in the Spatial Analyst and 3D Analyst toolbars were a legacy UI that was causing confusion for users. We considered removing them at 9.0 with the introduction of Geoprocessing tools and all this functionality also being available in the ArcToolbox. We decided to provide a transition period to allow people to move away from this functionality, which most have done.
Questions about different environments, different appearance of dialogs that appear to do the same thing, bugs related to different behavior, and sometimes different terminology and parameters were causing confusion.
We had two options, replace all the functionality on these pulldown menus with the equivalent geoprocessing tools, or remove the functionality and allow users to put what they want on the menus. We chose the latter since we feel most people only used a small subset of tools on the pulldown menu and it is now easy to customize it.
If you have specific functionality missing by the removal of toolbar tools and options, please let us know as soon as possible. Everything, plus more than what was on the toolbar is available in the Spatial Analyst Geoprocessing Toolbox.
Note, no matter how much you customize the toolbar in 10 with geoprocessing tools, you won't get the Options dialog back. Since everything is GP, the Environment Settings will be honored, making the former Options dialog moot. To ensure pixel alignment, set the Snap Raster parameter in the Environment Settings.
Regards,
Eric