in DOM level 1, "value" attribute of HtmlSelectElement is unclear

The DOM level 1 specification defines a "value" attribute for the HtmlSelectElement interface.  It's unclear what this attribute means, since the HTML 4.0 specification doesn't define a "value" attribute for the SELECT element.  Should HtmlSelectElement's "value" attribute actually exist?  If so, the explanation of this attribute in the DOM specification is hopelessly vague: it reads "The current form control value". Does this mean the value of the option which is currently selected in the SELECT element?  Also, the "value" attribute is not read-only.  Does this mean that if I set the "value" attribute to X, then the option whose value is X will become selected?

It would be nice if you could address these questions in the DOM errata at

http://www.w3.org/DOM/updates/REC-DOM-Level-1-19981001-errata.html

Thanks!

-adam