Possible DOWNSIDES to reset:
Older players lose what they have
Older players may leave
Possible POSITIVE EFFECTS of reset:
Draws in new players, because there's a fresh experience
Allows players to rank up, as the previous system was sort of broken. New players couldn't compete with old ones.
New map
Fixes Glitches and Bugs
Allows for new plug ins and features
Overall, I'd say a reset would be best for Foxcraft. The only downside I could come up with is players losing their things, and in turn those players.