A hard reset is easier than that. The only thing I ever lose when bouncing around between ROMs is call log and texts. Settings are restored from Google's servers. Bookmarks are as well. All apps install automatically since they are tied to your Google account. The only thing I lose are calls and texts, and I use sms backup and call track to handle those.
I meant things like, WiFi, Bluetooth, ringtone/notification sounds, GPS options, keyboard settings, unique app settings etc... I've never had those things backup to Google, but maybe I'm doing something wrong? Either way, I agree with your general point... hard resets are not that big of deal.