Another possibility. I've set up my cab this way (though I'm still waiting to hook up my power ON switch).
Get a copy of POWEROFF
http://users.telenet.be/jbosman/applications.htmlPut it on the path somewhere
Set up a bat file to run the command line
Poweroff poweroff -force
The save it as Turnoff.bat somewhere
Create a shortcut to it and configure the shortcut with a hotkey of, oh, say CTRL-F11 or something.
Now, configure your IPAC to generate that keystroke on a shifted button press.
Viola! The machine performs an orderly powerdown (not just an instance poweroff), at the press of a button that's ALREADY on your control panel. No extra buttons, no wires, etc.
Now to turn things on, if possible, set the BIOS of your mobo to "Wake on KBD/Mouse". You'll need the IPAC plugged into the PS2 plug for that to work (at least with the MOBO I've got, an ASUS m3n78-vm, others will likely be a little different.)
You may need to configure WAKE ON USB if the keyboard/encoder is on a USB port.
And if it doesn't work, you may STILL need to run wires for the Poweron switch. Just depends on your mobo at that point.