I'm not sure how they're functionally different. My current batch of OS X browsers don't show any difference.
I would assume they are all functionally the same due to legacy HTML attribute handling. Back in the day, any flag (Boolean) attribute need only be present, sans value, eg
<input readonly>
<option selected>
When XHTML came along, this syntax wasn't valid and values were required. Whilst the W3 specified using the attribute name as the value, I'm guessing most browser vendors decided to simply check for attribute existence.