When you reset Internet Explorer settings, all add-ons and customizations are deleted, and you basically start with a fresh version of Internet Explorer.
The Reset Internet Explorer Settings feature restores the following items to their default settings:
Additionally, the Reset Internet Explorer Settings feature disables all add-ins.
That is what will happen if you choose to reset your IE - is that what you want?
If you are getting script debugging messages, that usually means IE is not happy with the web page because the web page has some errors in it so you may want to see if this KB article applies to you instead of firstly just whacking all your IE settings: