Morrile, I wouldn't go for pull-down menu for the same reason that I voted against the carousel: it's one more hurdle for the user to jump over before they get to where they want to do.
Remember, the page from which they select the language will have no other significant content (because, at that stage, you don't know which language to display that content in). So it's not as if the array of flags will be competing for screen space with anything else. Make the flags nice and large, and not too close to each other, and the user will easily be able to see the one he wants and go straight to it.
That said, there is another issue. How do you know that the visitor will land on the page that has the flags? More likely, they will reach your site via a search engine, and that will take them to whatever page on the site has the content they are interested in. If that page is not in the visitor's language, they will need a quick way of reaching the correct language from that point. They won't know about the "flags" page, and they won't have any obvious way of getting there.
With that in mind, maybe you need to have the language-selection mechanism on every page. But, again, it has to obvious that it's there and easy to use: perhaps a row of flags at the top of the page, permanently docked to the window (so that it doesn't scroll when the page scrolls). It would be no good having a link named "Select language", because presumably the visitor won't understand "Select language" in any language other than their own.
Just something to think about.