We used this link all the time to view the current page outside of the CMS. Where did it go? If it was taken away, please add it back in the next update. This link was vital.
Yes, that link is gone in the new UI. Now, the only default way to go to View Mode is to use the 'View on website' link in the Options context menu for a page.
Going to preview still leaves you inside the CMS, and there's no possibility to see URLs etc like you would as a normal visitor.