Don't forget to sanitize and validate the data. You didn't say if you are storing in DB or emailing, but the PHP mail() function can be used by spammers if you're not careful with your data.
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Another option. This will also have option to select a current option. This assumes that we have some $id set to signify which item will be selected in the list.

echo '<select id="mylist"...

CSS can help SEO dramatically. As previous posters of this thread have noted it can put the "good stuff" up towards the top of the page, and also dramatically reduce the tags that mark up the page...