If you use the standard observe_field code and a select box with a restful controller then you can end up with the following code which should display a single record (Get method with an ID)
<%= observe_field("project_id", :update => "main", :url => project_path, :method => "get", :with => "'id='+escape(value)") %>
However this results in an index request rather than a show request because the project_path() url doesn't have the id specified as a parameter it as it is provided with the :with hash.
Processing ProjectsController#show (for 127.0.0.1 at 2006-11-06 06:44:15) [GET]
Session ID: 378c759fbbfebd6510edd605de7e1cb5
Parameters: {"action"=>"show", "id"=>"8", "controller"=>"projects"}
As you cannot provide the project_path url with the id until the select box has been modified you cannot specify that it should display a single record.
So unless I am missing something this means that you cannot use the observe_field helper with RESTful controllers to display, edit or delete a single record.