I have a question for you Guardians. Consider the fact that Bungie is reorganizing the story missions so that they fit better and have a better flow, as well the fact that they are recording all the ghost's lines with Nolan North. If Bungie were to give you an option to reset the story you would of course keep all of your character weapons, armor, glimmer, level, etc, the only thing that would happen would be the story and any access to areas granted by the story such as, the strikes, VOG raid ,Reef, etc until you do the story again, Would you do it? Would you reset the story to experience it again when the taken king drops?
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I'm just playing the story from the beginning with a new character.
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If Bungie were to revise the original story so that it actually presented a coherent narrative, I would have no qualms about deleting any of my characters in order to start over. As it is stands currently, resetting story progress has no real purpose because there is no story.