I am trying to get familiar with the new ruby selenium-webdriver as it appears more intuitive mostly than the previous version of selenium and the ruby driver that went with
For the latest version of Webdriver (RC3) you should use "click()" instead of setSelected(). Also option.getText().equals("Name you want") should be used instead of option.getText()=="Name you want" in JAVA:
WebElement select = driver.findElement(By.name("select"));
List options = select.findElements(By.tagName("option"));
for(WebElement option : options){
if(option.getText().equals("Name you want"){
option.click();
break;
}
}