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People testing the new browser beta should first uninstall previous betas of IE7, including the "IE7 beta 2 preview [msdn.microsoft.com]" -- using the regular Windows uninstall interface.
IE7 has made the select element behave properly.
I had hoped for more, but I'll take what I can get.
I have installed IE7 and the thing I like most is that it now uses tabs like mozilla. What I don't like however is that it seems to have a new set of style issues to contend with when designing.
Hopefully when the final release comes out these will all be sorted and it will fulfill all my hopes in a browser ;)