I think I prefer the idea of just rebooting any of the major threads that got borked, rather than resetting the whole site. Alot of people have spent alot of time building up their Gamrconnect score, imagine Spurgeon Ryan's reaction if he came back and saw all of his 800,000+ points missing. I assume a reset would reset the entire Game Database too.
This. If I weren't on staff then having everything attached to my account reset would cause me to leave. I've spent years slowly catching up to oliist in points xD
Any major threads that are still active and which still have borked OPs or fully deleted OPs should definitely be recreated (potentially with help from Wayback Machine or similar sites, to retrieve the OP if it would be difficult to recreate).
Regarding your last sentence, the GameDB would not be impacted.