To hide this link from all but those users with full control over a WSS site, open the site master page in SharePoint Designer and find the SPSecurityTrimmedControl element that contains a div with class ms-quicklaunchheader. The quickest route to this is to view the page in split view, and click on the “View All Site Content” link in the design pane.
The PermissionsString attribute of the SPSecurityTrimmedControl element determines what users can view this content. Change the value of this attribute to ManageWeb and only those users with rights to perform all admin tasks on the site will then be able to see the link on all pages in the site.
See this page for a list of all the possible permission string values.
All WSS templates that are also included in MOSS (including pages) actually inherit their setting from the System Master Page setting, not the Site Master Page setting. The Site Master Page is not used. Only in MOSS-specific templates, such as a Publishing site, is there Site Master Page usage and System Master Page usage. So to fix this, from the home page Master page settings page, select ‘System Master Page’ select the master page you want and check the ‘Reset all subsites’ option.
Here is the feature Mark Wagner wrote to hide the View All Content Link.
I also add some extra to hide the DIV box and Receyle Bin box. What you need to do is add
Here is the wsp file and vs2008 source code.