Yes, some parameters are disabled. The reason is that it should not be possible to open a window that pretends to be something else.
The exact rules depends on the browser, the scope of the page (intranet/public), and the user settings. Most browsers won't remove the address bar, so that you can always see where the page is coming from.
You can for example read here about the restrictions in Internet Explorer.
Some quotes:
"Internet Explorer 6 for Windows XP
  SP2 requires that the window title 
  bar and status bar are always in the
  visible area of the display; if the 
  address bar is displayed, it must also
  remain visible. By placing these 
  restrictions on script-opened windows,
  the Window Restrictions security 
  feature prevents malicious code from
  hiding information and from  spoofing
  user interfaces. The Window
  restrictions feature is on by  default
  for the Internet zone, and the feature
  is off by default for the  Local
  Intranet and Trusted Sites zones."
and:
"The status bar is an Internet
  Explorer security feature that
  provides the user with Internet
  Explorer security zone information.
  Prior to Internet Explorer 6 for
  Windows XP SP2, the status bar could
  be hidden from the user by scripts
  that call the window.open method. With
  the status bar hidden from view, users
  could be deceived into thinking that
  they were on a trusted site when they
  were actually interacting with a
  malicious host.
With window restrictions in place, the
  status bar cannot be turned off for
  any window created by the window.open
  method; it is always visible for all
  Internet Explorer windows. The zone
  information that the status bar
  contains cannot be spoofed or hidden
  from view, so that the user always
  knows in what security zone the
  content is being displayed."
This is about IE 6, as that's when this was introduced. There were some furhter changes in IE 7, but that mostly has to do with how the navigation changed, making some parameters of the open command work differently or being obsolete.