I think there's a significant difference between your thread title and what I think you are asking resetting vs. rebooting.
Example levels of "resetting":
Rebooting Device - simple shut-down & restart (like rebooting computer).
Clearing Device Cache (Wipe Cache Partition - Application Cache) App specific, or for all app's (user option).
Resetting Device - in my mind is setting back to an earlier time (factory reset, incremental reset, etc.).
I think what you are asking, in my mind, akin to restarting your computer - allows the operating system to put everything back where it belongs and by default closes all running apps. In general, I would say the more different apps you run the more things begin to slow down (and benefit from a fresh start, and/or clearing the various cache locations also). The more apps you load, the fuller internal drive becomes, the more app cache is used, the more apps request updating, the more potential you have for slow-downs, etc.
Depending on specifics of your device and how you use it, simple rebooting should be part of your schedule - frequency based on specific need (maybe daily, weekly, etc.). Same goes for the other levels of "resetting" the device.
Regards,
