There are the "static" properties and attributes that were defined in the HTML itself, and then the "dynamic" ones that reflect the current state of the element, including things like attached event handlers. Unfortunately, the W3C doesn't make it totally clear what is supposed to be copied on a clone. It varies depending on the browser.
There is a bug report filed against it in the tracker with the hope that jQuery might try to normalize it across all browsers, but it's not a jQuery bug. If you know you are cloning a select, it's pretty easy to fix by manually setting the correct option. http://dev.jquery.com/ticket/2941
