I work with Photoshop 11, so I can't verify for older versions, but are You sure You didn’t just try to »save as« in file formats that couldn’t handle what the file contained (like layered files as jpgs and such)?
And are You familiar with Image Processor? Not that that would be much help with Actions intended to be applied to one file at a time.
If I use "Add Menu Item" and select Save As the command added is actually Save A Copy, with the As a Copy button checked and " copy" appended to the filename, no matter the format.
And how does Your Photoshop handle a recorded »Save As«?