Steve,
From the 'halt' man page:
The halt and reboot utilities flush the file system cache to disk, send
all running processes a SIGTERM (and subsequently a SIGKILL) and, respec-
tively, halt or restart the system. The action is logged, including
entering a shutdown record into the wtmp(5) file.
When the system is halted with the halt command, the system is powered
off.
As mentioned by others it will safely shut down the OS, but will not give apps the opportunity to ask you if you want to save docs.
Reese