After being very annoyed by having to power cycle my RPi via unplug/replugging it in, I stumbled on this article that talks about the built in reset pinout on the board, you just need to short the two and bam, RPi will reset. The author, as you can see, put pins on the board to make it easier to use.
http://raspi.tv/2012/making-a-reset-switch-for-your-rev-2-raspberry-pi