I think the function of saving any GPS coordinates as "Favorites" similar to most usable GPS apps has is not yet implemented on Ovi Maps for Maemo 1.01.

It is one of the basic things need for implementing turn-by-turn navigation that even Nokia Maps 1.0 had and we still have to wait for it, along with the voice guidance itself, not to mention all additional features from Ovi Maps 3.0 on Symbian devices.