Soft reset is a power off by the slider. Hard reset is the power and home button held at the same time. The difference is very simple. The soft reset does not clear any files saved durning a normal shutdown, which allows the startup to have certain presets loaded. The hard reset deletes all those files and does a clean reboot with only system based preferences loaded. Whether people like the name convention or not is immaterial. Mainly because the names have been used for the last six years. So they are considered "in stone" at present.