ASP.Net Html.DropDownList Selected Element not Selected

I have a site that was using ASP.Net MVC Beta 5, and I have just upgraded it to ASP.Net MVC 1.0. I am having trouble with the selected item in a drop down list.

The follow person has a similar question (Html.DropDownList in ASP.NET MVC RC (refresh) not pre-selecting item) but I there is no answer (other than it might be a bug)

My Controller method looks as follows:

[AcceptVerbs(HttpVerbs.Get)]
public ActionResult View(Guid id)
{
    IntegrationLogic logic = new IntegrationLogic(new IntegrationLinq());
    CompanyLogic companyLogic = new CompanyLogic(new CompanyLinq());
    IntegrationContainer container = new IntegrationContainer();

    container.Sources = logic.GetImportSource(id);
    container.Companies = companyLogic.GetCompanies(); // Returns a IList<company>
    container.SourceActions = logic.GetAllSourceActions(); // Returns an IList<SourceAction>
    container.SinkActions = logic.GetAllSinkActions();
    container.SuccessActions = logic.GetAllSuccessActions();
    container.FailureActions = logic.GetAllFailureActions();
    container.Actions = logic.GetAllActions();
    container.Watchers = logic.GetAllWatcherActions();
    container.ChainActions = logic.GetAllChainActions();

    return View("View", container);
 }

The view is a strongly typed against the Model as follows

public partial class View : ViewPage<IntegrationContainer> {}

The problem area in the view template is :

  <label for="Companies">Company: </label><%=Html.DropDownList("Companies",
                                                new SelectList(ViewData.Model.Companies, "id", "name", item.CompanyID))%>

I am creating a Dropdown List, the selected item never actually gets selected - and that is the problem. "item.C