This is the first time you've saved the project. Keep in mind that the second part of this book is a starttofinish tutorial that results in a finished song, so each of the next six chapters build upon the previous ones. Consequently, you should save this song using a name you can remember, because you're going to need it for Lesson 5, "Working with Apple Loops".
Just in case something goes awry along the way, you should save the song after (and during!) each exercise, using a different name each time. For example, you could name this saved file LogicLesson4, the song for the next chapter LogicLesson5, and so on. The name you choose is up to you; just make sure you remember what it is and where you put it.
You should always save incremental versions of your songs by adding a number to the file each time you save it (MySong1, MySong2, MySong3, etc.). Project files do occasionally become corrupt, and if you haven't saved incremental versions, you have nothing to go back to when something goes wrong. But more practically, say you go off on a musical tangent and then don't like the results. If you save incremental versions of your song, you can return to that great mix from a few hours earlier.
In the following steps you will save the song as a project. This is a great technique to learn, because when you save a song as a project, Logic automatically groups all audio files, plug-in settings, and even EXS instrument samples and Space Designer impulse responses into one folder that you can easily move from computer to computer, back up on a DVD disc, and so on.