i don't think i have had my 12" pb shut down since i've bought it in september when they came out with the new revision (traded in my 1.8 G5 with the 30-day money back guarentee, haven't regretted it for one second). when i take it to class, i just throw it in my bag, then open my lid and i'm ready to go. my astronomy teacher taught at berkley in CA last year, which, according to him, is a big mac campus. so from day 1 when he saw the 12" shining apple powerbook, i was a teacher's pet without even trying, it rocked.
back on topic, as i said above, i haven't shut my 12" down yet, but i would definitley reccomend shutting it down if you know it's going to be in below operating temperatures for an extended period of time, and give it some thaw time before you start her up again. you can never be too cautious when it comes to leaving a laptop in the cold, although to me it's like leaving a baby in the freezing cold 🙂