There are arguments for and against CSS resets. The general idea is that by "zeroing-out" all properties you're given a consistently blank canvas across all browsers to which you can apply your custom styles.
The problem with using a reset is that everything will be reset - so, you need to specify custom styles for everything, or at least everything you're going to be utilising within your site.
Read Snook's view: http://snook.ca/archives/html%5Fand%5Fcss/no%5Fcss%5Freset/
I often see sites with odd styles applied in commenting systems. For example, I might leave a comment with a <code>
tag and because the site uses a css-reset the code tag has no special styling, making it visually pointless. This is only a problem with those full-on resets, like Meyers or Yahoos. Developers forget to apply styles to reset elements... Your flat-reset, while simple, has other ramifications.
In my opinion it's better to have no reset and just style each element on top of default styles offered by the browser.