Which version of mysql are you using?
Try this:
mysql> select version();
+---------------+
| version() |
+---------------+
| 3.23.28-gamma |
+---------------+
1 row in set (0.11 sec)
Here is my MySQL screen dump:
mysql> create table test3 as select * from test;
Query OK, 3 rows affected (0.26 sec)
Records: 3 Duplicates: 0 Warnings: 0