Ah, OK, I see what you are saying. With a dropdown element, yes, it will show whatever text you are using, as Fabrik as-is has no way of knowing if you are using a "please select" option, as far as we are concerned it's just another value / label.
Easiest way round that for now would be to use a database join instead. Just create a list for your dropdown options, where you add your option label as a field element in the new list, add a row in the new list for each option, create a join element on your original form, joining to the new list, using the 'id' (primary key) as the value, and the 'label' element as the label. Then set the "use please select" option on the join to Yes.
However, I will add a feature request for the dropdown element, for "Hide default", which would do what you want - in list and details display, if the value is the default value, just show blank space instead of the default label.
-- hugh