After seeing the differences in the Flash MX dropdown component vs the Flash 5 SmartClip version, I decided to convert the Flash 5 to have the same ease of use as the MX version.

The parameters in this clip allow you to set a filepath, and allow you to enter in a description for each link in the dropdown as well as the filename that the description should link to. Great for Mixed Flash/HTML sites.

Hope it's useful for you.

http://www.whatthefrag.com/uploads/dropdown.fla