Yes; assuming the following works (and if it doesn't then `$selectMultiple.val([])` etc. are likely broken), I would consider it better than the if/else:
```js
if ( !optionSet ) {
	elem.selectedIndex = -1;
}
```

The remainder is then mostly optimizing for compression; e.g.:
```js
var optionSet, option,
	options = elem.options,
	i = options.length,
	values = jQuery.makeArray( value );

while ( i-- ) {
	option = options[ i ];
	if ( (option.selected = jQuery.inArray( jQuery(option).val(), values ) >= 0) ) {
		optionSet = true;
	}
}
```