Sorry to say, but they really messed things up.
Looking at diskfiles / save folders here's what they did:
They made 1 profile, called it Public, and in that disk-folder save all your manual saves / autosaves / quicksaves.
Somewhere in the game they tagged saves as belonging to your character.
They do this on character-name.
This automaticly means that, when creating characters, and playing as Tav, you get a screen full off Tav's to choose from......
So actually the two things they did was removing profiles, and tagging saves with a character name.
It is by far the biggest design fault / change / mess-up I have ever seen in a game. (and believe me I have seen a few)