I don’t think the new version of Firefox uses Cookies.
Yes, it uses cookies because all websites use cookies.
The version of FF3.5.1 I’m using is also missing a button so that I can set my cookie options. There’s a little link on the tab that let’s me see what cookies I have and delete all cookies or individual cookies. But there are no other options.
I HOPE FF doesn’t think that I want to accept all cookies, because they’re sadly mistaken. I did download and install the TACO extension to weed out the worst offenders.