for MSIE browsers you need to pre-set the font rules for input and select elements...
input, select {font-family:'Times New Roman';font-size:100%; line-height:1.5em}
Usually this is done in a reset.css file. You can test this requirement by using the View>Text Size menu in IE...without the rule the text in select and input elements does not change size... with the rule it does... matching other browsers.
MSIE browsers have a setting "Enable visual styles on buttons and controls in web pages" which affects the rendering of select and other form elements.
to align the label element with a control I like this design pattern:
[label]Select:[select][option]this option[/option][/select][/label]
for Apple and Mobile type layouts
[label]Select:[br/][select][option]this option[/option][/select][/label]
again... you need to change the default style rules for label elements to make them consistent with the input and select elements.
label{font-size:100%; font-weight:bold}