setTimeout with zero delay used often in web pages, why?

Question

I've recently run into a rather nasty bug, wherein the code was loading a <select> dynamically via JavaScript. This dynamically loaded <select> had a pre-selected value. In IE6, we already had code to fix the selected <option>, because sometimes the <select>'s selectedIndex value would be out of sync with the selected <option>'s index attribute, as below:

field.selectedIndex = element.index;

However, this code wasn't working. Even though the field's selectedIndex was being set correctly, the wrong index would end up being selected. However, if I stuck an alert() statement in at the right time, the correct option would be selected. Thinking this might be some sort of timing issue, I tried something random that I'd seen in code before:

var wrapFn = (function() {
    var myField = field;
    var myElement = element;

    return function() {
        myField.selectedIndex = myElement.index;
    }
})();
setTimeout(wrapFn, 0);

And this worked!

I've got a solution for my problem, but I'm uneasy that I don't know exactly why this fixes my problem. Does anyone have an official explanation? What browser issue am I avoiding by calling my function "later" using setTimeout()?