Be aware that removing the splash screen will also cause you not to see any boot-up messages that might come up (chkdsk, convert ... ), but if your system runs without any problems then it should not matter.
1. Edit boot.ini
2. Add " /noguiboot" right after "/fastdetect".
(or check the /noguiboot switch in msconfig on the boot.ini tab)
Upon restarting, the splash screen will be gone. It can be re-enabled by removing the new switch.