It is not the sleep/standby mode that Rothberg and I are talking about with the new 4900. It is an automatic total power down/shut down.
The 4900 turns itself off completely after an hour or so according to Rothberg's timing. The power light goes off and you have to press power again to turn it on. It then goes through a start up cycle that takes time. I have not timed the start up cycle, but it is not instant.
The 4900 goes into sleep/standby mode fairly quickly. This mode is different than the auto shut off. I would gues it goes into this mode after 5 minutes of inactivity. I have not timed this either, though.
In sleep/standby mode, the lcd screen goes black, but the power light remains on. All you need to do to "wake it up" is push the menu button or, I presume, send it a print job. The manual specs only 8 watts of power used in standby/sleep mode. Moreover, it is nearly silent in this mode as well.
Like Rothberg, I used to leave my 4800 powered on all the time so that I did not have to wait for it to go through its power up ritual.
Regardless, according to the Epson Pro support guy I talked to, the best thing to do, in general, with Epson Pro printers is to shut-em down. Obviously, the Epson engineers thought this was important enough to include an auto shutdown feature in the new 4900. This is currently not user defeatable.
I would ask if the other new Epson printers include the auto shutdown feature? I assume the older 7900 and 9900 do not shut themselves down?
I hope this helps enlighten this discussion. it did for me.