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If you root the phone and add a custom ROM, depending on which rom you flash too, it will offer:

REBOOT
SHUTOFF
RECOVERY
BOOTLOADER
OR RESTART

Please note that rooting your phone will render your warranty useless...it also may BRICK your phone, depending on what ROM you use.

I have rooted 2 Android phone, the Thunderbolt and the RAZR MAXX (no HD). The TBolt was easy and the MAXX was easy also, just took more reading and researching.

I do agree that the power thing is a pain, and holding it down for 10 seconds is somewhat dumb, but I understand.

I am waiting for Jelly Bean to get to it.