I had researched this and the URLRewrite method works well. Can't seem to find the change scripted anywhere well. I wrote this compatible with PowerShell v2 and above and tested it on IIS 7.5.
# Add Allowed Server Variable
Add-WebConfiguration /system.webServer/rewrite/allowedServerVariables -atIndex 0 -value @{name="RESPONSE_SERVER"}
# Rule Name
$ruleName = "Remove Server Response Header"
# Add outbound IIS Rewrite Rule
Add-WebConfigurationProperty -pspath "iis:\" -filter "system.webServer/rewrite/outboundrules" -name "." -value @{name=$ruleName; stopProcessing='False'}
#Set Properties of newly created outbound rule
Set-WebConfigurationProperty -pspath "MACHINE/WEBROOT/APPHOST" -filter "system.webServer/rewrite/outboundRules/rule[@name='$ruleName']/match" -name "serverVariable" -value "RESPONSE_SERVER"
Set-WebConfigurationProperty -pspath "MACHINE/WEBROOT/APPHOST" -filter "system.webServer/rewrite/outboundRules/rule[@name='$ruleName']/match" -name "pattern" -value ".*"
Set-WebConfigurationProperty -pspath "MACHINE/WEBROOT/APPHOST" -filter "system.webServer/rewrite/outboundRules/rule[@name='$ruleName']/action" -name "type" -value "Rewrite"