Google has moved the location of the "Saved Locations" feature in Google Maps. Now, you should see an arrow down on the right hand side of the search box, in Google Maps. Clicking on that arrow will show you your saved locations. It is in that area where you can find the "Edit saved locations" feature, as well.
Here are screen shots to illustrate:
(2) Will trigger a box to open up below with your saved locations and a way to manage them:

Maps Guide Brian explains in a Google Groups thread:
I understand that it's a bit inconvenient for those of you loyal "Saved Locations" users, but assuming the drop-down arrow remains, any suggestions on how we can improve this feature? I'd love to hear everyone's feedback!
Forum discussion at Google Groups.


Comments:
asdf
06/24/2008 08:00 pm
Thanks for this. I couldn't find it till I read this post!
No Name
07/09/2008 08:46 pm
Like the previous user, I couldn't find the feature until I found this post! I would _LOVE_ to be able to add a location to my saved locations. It is extremely convenient to search for a location and then click get directions To Here and simply type in "Home" into the From box. Unfortunately getting locations to show up in Saved Locations is a pain in the tush.
frankfrankfrank
07/31/2008 08:04 pm
Thanks. I spent 20 minutes looking for the saved locations button. I thought they got rid of it! The help files do not yet show this latest update. I had to search the internet and found this page. I would not have found it otherwise if it wasnt for this website. Thanks again.
Dragon
09/12/2008 07:07 pm
Thanks. Took me forever to figure it out.