From my understanding, it has to be a hard reset. On N64, they physically have to press the reset button, in this case. You just have to hit "Reset Game."

Yea you have to press the reset on a console, there's no other way around it. But when you press the button it goes straight to black screen, on this version when you reset there's a delay where it returns to the game and then resets. On top of there being added menuing, it's just a faster reset having a load file on the black screen which is why I added the video to show it. If that makes sense.

No, you cannot use savestates.

Thank you