to clarify:
you have ESP as as such you are correct in what you are saying i believe.
Tiff did say in a 5th gear episode to hold the button in for 8 seconds to totally deactivate it.... if this is correct im not sure.
for those that have TCS, they will not have active stablility control (electronic stability programme / ESP) to start with, and will therefore not have it when the TCS is turned off either!