Tim,
For 9.3.1, create a polygon shapefile and draw a polygon that completely contains only what you want included in the tin(if you used a polygon to clip those contours out of a larger dataset, it would work perfectly). In the Create Tin from Features tool, add your contours like normal and also add the new polygon. For the height source on the polygon, set it to "none." I believe the triangulate option defaults to a soft clip...this should work fine. Hard clip might be better, but to be honest I haven't experimented much.
This should create a TIN with everything outside of that boundary polygon removed.