How do I open images in Preview at full size?

Is there a way I can get Preview to open images in Actual Size by default and not have it fit to screen? I vaguely remember this as an option in previous versions of Preview, but am unable to find anything in the current version. System is 10.7.3 with Preview Version 5.5.1 (719.11).


View>Actual Size or Command + 0 (zero):

View>Actual Size