How to Completely Disable Action Center

Windows Security Internet Security Configuration
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Windows 7's Action Center constantly monitors the security of your system for several security lapses:

If you don't want any of these features monitored and are happy updating windows manually, here's how to disable the action center completely instead of just hiding it from the notification area:

Step 1: Open Action Center from the Control Panel.
Click Change Action Control Settings on the left.
Uncheck ALL of the checkboxes and hit OK.

Step 3: Go to Start>Run>services.msc,
Scroll down to 'Security Center', right click>properties and stop the service.
Change the startup type to 'Disabled'. Hit OK and close the window.

Step4: Now you have an awesome nag screen in the taskbar telling you what you already know- that action center is disabled. To get rid of this,
Go to Start>Run>gpedit.msc.
Browse to User Configuration>Administrative Templates>Start Menu and Taskbar.
Find the entry for 'Remove the Action Center Icon', right click>edit, and set it to enabled. Hit Ok.

Step 4: Restart your machine and you're all done!