In Europe, malted powder is widely sold, under such names as Horlichs, and is not to my memory sweetened or mixed with milk. It is served warm, before bed to children, or so I have been told by various people.
You can find plain old malt powder in the bulk bins at PCC sometimes, or special order it from a company called Terra Spice. You can also purchase Brewers Malt Syrup at most natural stores, which is a malted barley syrup, very sweet, and not too bitter.
All these products are usable, expecially if you are going to do something creative, like a malted parsnip puree, or mount a demi glace with it.
But if you want an all american malted milkshake, I believe with all my heart that Carnation Malted Milk Powder provides the gold standard.]]>