This feature was added to 2.2:
Added a setting to hide admin menu items if the access control list limits access to certain functionalities. Just set 'SecuritySettings.HideAdminMenuItemsBasedOnPermissions' setting to 'true'.
It might be nice to make securitysettings.hideadminmenuitemsbasedonpermissions
accessible in the same place as the other security settings:
General And Miscellaneous Settings / Security Settings (tab)
securitysettings.adminareaallowedipaddresses
securitysettings.encryptionkey