This worked perfectly for me, I was looking for a way to send two different values with options generated by MySQL, and the following is generic and dynamic:
As mentioned in one of the comments. With this I was able to create a dynamic function that works with all my selection boxes that I want to get both values, the option value and the text.
Few days ago I noticed that when updating the jQuery from 1.6 to 1.9 of the site I used this code, this stop working... probably was a conflict with another piece of code... anyway, the solution was to remove option from the find() call:
That was my solution... use it only if you have any problem after updating your jQuery.