Here is how I do a quick lockdown:
Make sure the server is fully patched before you begin.
Run a port scan on the ip from the local segment, take note of all ports that respond.
Look up by port number the app that uses that port.
Determine if that application is necessary on that server, if not stop the service and disable it so it won't start on bootup.
The ports left open you server will need to offer to computers on the network and probably can't be changed, stuff like DHCP or DNS.
If I am dealing with an internet box I start with the same proceedure then put it behind a SOLID firewall (never on box) and open only the required ports for the NAT address. Then I use a tool like nmap from the outside to confirm I can't see anything more than what I expect to from that box.
What does everyone else do?