This is the scenario...
I create a new project and drag the audio files (multi-tracks) into the project for mixing. When I save the project for the first time, this is where I get the 'save' dialog with the option to uncheck the "Copy all audio with project" box. Now the second time I save the project (i.e. save the changes I've made to the project since that first save), Cakewalk goes ahead and creates a copy of those audio files in the project folder anyway.
This is annoying. The I don't like this.