Previewing Animation in 3dsMax

Well, well, well...

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Switching from Max 2010 to 2011, I had trouble finding "Preview" in the usual spot.
Turns out, they've moved it! Again!
It used to be in Render, then Animate, now in TOOLS... hmm..

Anyway --

In Max, animation previews are called "Previews"
Go to:
Tools > Grab Viewport > Create Animated Sequence File > Make Preview

Choose your options for the size, compression, location, filename, etc.
Choose Output > AVI > Choose Codec..

Encoding is a bit tricky at the moment. No good codecs appear in my dropdown... 
I'd probably go with Video 1 and crank it up.

Suggestions welcome.