"Snow Leopard and Leopard handle the Spotlight menu very differently. Under Leopard, the Spotlight menu is an application on its own rights. That application is launched by launchd. The menu may thus easily be disabled by modifying the appropriate launchd configuration file.
Snow Leopard seems to have revered to the Tiger way of running the Spotlight menu. The menu itself lives in /System/Library/CoreServices/Search.bundle . It is automatically loaded by SystemUIServer.app which is also host to menu extras.
While there are preference files allowing us to disable menu extras, I can't seem to find any way to disable Search.bundle
The previously suggested option of renaming Search.bundle does work, but comes at a high risk. A future system update may try to update Search.bundle and end up with a partial bundle file. Thus SystemUIServer will crash trying to load that bundle. To be safe, one would need to restore the bundle before each update. Hardly a desirable solution.
Moreover renaming Search.bundle or removing read rights affects all users on the machine. A per-user preferences as available under Leopard would be preferable."