print option lost after Mountain Lion upgrade
Do you mean the Presets drop-down in the Print window that comes up when you select Print (Command-P) in any app? 

In this Print window, click on Show Details. There you can build your own Presets -- Draft, Fast, Slow, Color, Paper, whatever combination of variables you like -- by selecting from the choices shown and saving for future use.

BTW, to see this expanded Print window by default, enter in Terminal:

defaults write NSGlobalDomain PMPrintingExpandedStateForPrint -bool true