Let me know what you find out. I just tested mine. It did not have a passcode but restrictions were on. It allowed me to set passcode w/o unlocking restrictions!
Yes, checked out Apple but found nothing. Apple does not support the use of carts- or iPads in a non 1:1 environment. They basically told us that in person in one of our many meetings. They want 1:1 for all!
I know they don't support the carts, but they have a new utility you can download called Configurator. It's like the old iPhone configuration utility, but it's suppose to be more powerful.