I think it would be a good idea if you did something about the PK'ing. What people want more than a new quest or monster is to get the player killing under control. Unless you do that players are going to be 50/50 on this poll, half want the reset because they're not a high level and get PK'd real easily, and the other half don't want it because they're a high level and are doing the PK'ing.
Jo3