This feature was a really nice thing and its really difficult to get to know the free space available in a partition. Can't we get a tool-tip or something of that sort to display the free space.
Is there a way to get this feature back in ubuntu 11.10.
That feature was available in the Nautilus statusbar, which is disabled by default (a floating, autohide statusbar is used now) for Nautilus 3. But you can re-enable it: in Nautilus, select View > Statusbar.
That's it :)
If you open your desired folder in Nautilus, then right-click the background inside the window and choose Properties, you will get a window similar to this with free space shown near the bottom: