- The instrument has an OCXO frequency reference which needs to be kept at a constant temperature even when the instrument is switched off
My Keysight 34461A DMM doesn't seem to keep it's reference heated when in standby.
Anyway, soft power switches aren't new in the test equipment arena. A lot of Tektronix gear (TDS500/600/700 series and DAS9200) from the early 90's has soft power switches.
I couldn't resist replying to this as I've spent a fair bit of time learning about the 3446xA's hardware - you're correct, the reference isn't heated when in standby, the power to the measurement board is completely turned off (by a TI regulator that is right next to the mains input). With the LM399 (the voltage reference used in everything except the 34470A), it is detrimental to keep the reference powered and there is very little advantage to keeping it heated (considering how quickly it warms up). To get any advantage, the measurement board would have to be fully powered (i.e. current flowing through the resistors and op-amps powered), and then it is only likely to age the components for allowing a user to get accurate readings straight away.
The power only goes to the front panel, but not to the main processor. There is an 80C51 microcontroller (NXP LPC932), that is used to control the power state and it, along with the LED, are the only thing powered when in standby. When turned on, the microcontroller informs the main processor (the ARM based ST SPEAR320s) that the power button has been pressed, if it doesn't shutdown within a set time (a second or so), the microcontroller cuts the power. If the multimeter ever goes into its screensaver mode (when the screen dims) you can wake it up by pressing the power button, because of it being a soft button. As the LAN interface is part of the SPEAR320s processor, you can't wake the multimeter up remotely, so it is only there for one reason ...
And this is where I believe that Wuerstchenhund is right, it is very easy to damage modern test gear by just pulling the power, where as soft buttons allow for a graceful shutdown. With frequency counters and spectrum analysers their internal oscillators are kept powered - which is why their specifications say they need to be powered for a large number of hours before their frequency measurements are accurate. In oscilloscopes there is no high accuracy oscillator, so there is no reason for them to be kept powered. The same applies for the vast majority of test gear.
To go back to the 3446xA, they can be turned off at the wall and it is very unlikely you will cause any damage to them - but there are advantages to the soft button. On shutdown, the multimeter saves its current state to the STATE0 file, so it can be returned to the same state on power up - if you pull the plug, this file isn't saved (or more precisely, isn't updated). If the multimeter is writing to a file, the soft-off allows it time to finish the write - whilst this might not work for USB files, it at least protects the calibration data and system files.