Looks like the option to hold a reservation still exists--if you are booking using the "ONEPASS" promotion code, a la the CO World MC from Chase. ^
I just held a RT to ZRH.

We will hold this reservation until midnight Thu., Jan. 5, 2006 Central Time.

To complete your purchase do one of the following:
Purchase your ticket online later by signing in to your OnePass Account and visiting Manage Reservations. From there, you can retrieve your reservation and complete the purchase.
Visit a Continental Ticketing facility for assistance. ($10.00 fee may apply)
Visit the nearest Western Union location with your reservation number and total price of this reservation. See instructions on how to complete your purchase ($15.00 fee per transaction)
Call Continental Reservations in the U.S. and Canada at 1-800-300-1547, United Kingdom on 0800 096 1885. ($15.00 USD service fee for non-Platinum members)