'Disabling' net command can be achieved in 2 ways.
First off you need to look for ALL net.exe's:
dir /a /s c:\net.exe
Then you can:
1. rename all net.exe's at a time
or
2. delete all net.exe's at a time
Windows can restore this file from few sources. Just make sure that you renamed/deleted ALL net.exe's at the same time. Make a simple bat script for this. For me bat works without problems. But if your Win is still restoring this file then you can play a little with AT command to schedule executing of this bat at startup.

One more thing to know. Even if you succesfully renamed/deleted net.exe then Windows can alert an user with security message giving him an opportunity to reinstall this file from CD (an entry in event log is made also). This is called as Windows File Protection and is introduced in Win2000 and WinXP.
Protected files are: .sys, .dll, .ocx, .ttf, .fon i .exe
More information about Windows File Protection can be found
here.