Yes, actually, I have seen this in one case where we had to shut off the server.
Frequently though, it's a waiting game, then a restart. How long have you waited? Assuming it's not cabling / NIC, Kerberos authentication errors can pause your login for 20 minutes, especially if UDP is blocked (in this case you force Kerberos to use TCP). Cabling problems are similar, as the system looks for something to log in to; NIC drivers, faulty NIC, you name it - if it can't find the DC, you're going to wait.
If the server services are running, as you say, try looking at the event log from a remote machine - this may give you some clues.
First, make sure remote registry / management is enabled
(otherwise you will get "The format of the specified computer name is invalid", after a long delay)
Do this from another workstation.
Admin Tools | Computer management
Right click on "Computer Management (local)"
Choose "Connect to another computer"
Browse, or type server name, then [Ok]
Expand "Services and Applications"
(There will be a pause)
Select "Services"
If not started, START:
"Remote Registry Service" (for Win2K/NT4)
Now view the server's event log
Expand Computer Management | System Tools | Event Viewer
and browse the logs
When done, remember to STOP the Remote Registry Service, if you started it!
Good luck