Clarification on Pick() Method

Hi All,
As per bookshelf, "The Pick method places the currently chosen record in a pick business component into the appropriate fields of the parent business component.".
Consider a scenario where I'm trying to insert a record in Service Request BC.
What is the difference between the following 2 code snippets??
Code.1:

    SetFieldValue(“SR Type”, sSRType);

Code.2:

var oSRTypeBC = GetPicklistBusComp("SR Type");
with(oSRTypeBC)
{
    SetViewMode(AllView);
    ClearToQuery();
    SetSearchSpec("Value", sSRType);
    SetSearchSpec("Type", "SR Type");
    ExecuteQuery(ForwardOnly);
    if(FirstRecord())
    {
        Pick();
    }
}

Even if I'm gonna use SetFieldValue, the fields in the PickMap will also be set right???

Regards,
Maggi.