It's just that the old update form recognizes this and sets the security visible on the page to match the minsecurity, and it looks like that bit got left out of the new update page! (In other words: the post will post locked at the time of posting; it just doesn't show that it'll post locked before you hit post.)

So... Does this mean that, eventually, the new update form will also show us the correct default security setting before we hit post the way that the old one does? ^-^; (Please say "Yes". Please? Pretty please? With sugar, cherries and sparkles on top?)