SVMPowerMgr is a free and handy power utility for Windows Mobile coming from XDA Developers that will be an answer to the prayers of many.

The application has the ability to turn off the screen of your device, put the device in suspended mode, Soft Reset the device

and turn it off. Download and install the cab from the zip to Device, after which you can bind it to one of your hardware keys for easy access. The zip also contains four predefined shortcuts for even more easy of access and productivity.

Note: one flaw though to this application is that it seems to disable ClearType device-wide when running it.