Can the Shut Down button be removed from the Start Menu?

Solution 1:

Here's a good Microsoft KB article that describes what you are after.

Lock down Win2k3 Server using group policies

Relevant section:

[User Configuration\Administrative Templates\Start Menu & Taskbar]
* Disable and remove the Shut Down command or Remove and prevent access to the Shut Down command

Solution 2:

As it 1) brings up a dialog with options to log off, restart, shut down or disconnect and 2) if you select shutdown it will warn you and require another confirm - doing it by accident doesn't seem too likely...

...if the user is not an administrator, only the log off and disconnect options will be enabled.

Update: dkbits answer would be the best way to go if you really want to remove the button ^^