[eluser]CroNiX[/eluser]
Nope, even using straight php/mysql you have to loop over it to get it in that format.
I just create a helper, array_to_dropdown($array, $key_field, $value_field, $default_value), where I can pass it the database result array (or any array), the field I want to use for the 'id' index, the key for the 'text' part, and an optional default first value, and it loops over the array creating the new desired array and returning it.