I was doing some checking with msconfig and even disabling everything my shutdown is over 4 minutes. However, at one point I got into a weird startup where I think some of the Microsoft items did not load. Had a couple of things I noticed in that configuration. 1 was that the computer would not see any network but would connect to the network. The other item I had was a warning that said: "Failed to connect to a network service. Windows could not connect to system event notification service".
However, while I was having that problem the shutdown was almost immediate. To fix the problem went into msconfig and disabled and then enabled everything and everything is back to working - but I am back to the slow shutdown.
I think the problem is due to an issue with the wireless connection. If I reboot with the wireless turned on the reboot takes about 5 minutes. If I reboot with the wireless connection turned off the reboot is fast. I also tested with the wireless turned off and I was connected to a network cable instead. That reboot was fast. There is definitely a problem related to the wireless connection. Unfortunately I don't know how to solve it other than using the workaround, which is to reboot or shutdown with the wireless turned off.