In Windows XP, there was an option in the power controls, to have the computer's physical "soft" power button "ask me what to do." Basically, the shutdown dialog would appear, and give the option to Shutdown, Standby or Hibernate.
In Windows 7 Ultimate, the default Power Options applet has no such option, listing only Sleep/Shutdown/Hibernate, etc.
The XP behavior can be triggered in Win7 by pressing Alt+F4 when the Desktop has focus, but there seems to be no easy way to "map" this to the physical soft-power button as there was in XP.
Am I missing something obvious?