In Aperture I understood the process to be that changes made in post processing where stored as "instructions" (not sure of real term) to be applied to the original and in that way saved space for storage over iPhoto where it appeared to me that a duplicate copy of the photo was made.

I'd like to understand what the new Photo does. I would bet the same as iPhoto?

Does anyone know the answer yet

In Aperture I understood the process to be that changes made in post processing where stored as "instructions" (not sure of real term) to be applied to the original and in that way saved space for storage over iPhoto where it appeared to me that a duplicate copy of the photo was made.

I'd like to understand what the new Photo does. I would bet the same as iPhoto?