I think the best way to accomplish this is to copy the original test and paste it into the same project. A duplicate test appears (with identical steps) and is named "Copy of _____.tstest". Rename the new test and make your changes.
All the best,
the Telerik team
for a live 'What's New in Test Studio R1 2011 SP2' event on Tuesday, July 19 at 2pm EST!
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for Telerik Test Studio?