What happens if you reset

Do you lose your recuritment levels or your market levels or does is it just reset your entire team only?

I could be wrong (so please let someone else confirm before you reset) but I believe it resets your team (staff, drivers, etc) but you keep your current scouting level, which in your case is 5.

That is correct. You start with a fresh supply of money too

All points, facilities, research, design, bank balance, contracts and reputations will be defaulted.

You keep your Scouting and Development Level.

I'd like the option to reset scouting and development leve so that if you want to truly start over with a bunch of other people, you don't have that advantage over them.

Almost right.
Things that don't reseted is reputation level and researched abilities (like DRS). It's true that you will lose your research facility, but you will still be able to use DRS even after a reset is done.

It's not a total reset... :(