In poking around forums, etc… I’ve seen a bunch of questions over the last few days about people not seeing the new Develop Module sliders in Lightroom 4 Beta (specifically the ones in the Basic Panel). In LR4, Adobe changed the Basic panel to include sliders that 1) Make more sense and, 2) Are way more powerful. However, because they’ve changed them so much you can indeed have two versions of the Basic panel because they couldn’t automatically switch older photos for you. So here’s the deal: Your Basic panel should like like the image below:
(click for larger view)

If it doesn’t, that means you’re editing a photo that was edited in an older version of Lightroom or Camera Raw. It’s easy enough to change the. Just scroll down to the Calibration panel in the Develop module. Under the Process setting make sure it reads 2012, not 2010.

Now you’ll be using the newest Lightroom stuff and you’ll be able to take advantage of the new sliders in the Basic panel.