Prior to Unity 3, there were no problems using C# System.IO.File.WriteAllText to write text to the local file system. But the compiler now flags File.WriteAllText as a non-existant method of the File class.
Having checked the mono documentation, File.WriteAllText still remains a part of the mono implementation of C#.
So I suspect the problem may have something to do with the new Secuity Sandbox which is said to be more like the Flash Security Sandbox. I know that from within the Flash Sandbox you can not write to the local file system.
As in previous versions of Unity, the programming/technical documentation in Unity 3 remains as poor as it has ever been.
Carl