Have not heard of a hard reset with a MEFI
ECM are adaptive controls. They store programed values in EPROM and working/actual (sensor) readings in ROM.
A “hard reset” in effect replaces the “working” values with the preprogramed values stored in EPROM
MEFI 3 manual
Non-Scan Diagnosis Of Drivability Concerns (No DTC's Set)
If a drivability concern still exists after following the OBD system check and reviewing the Symptoms section, an out of range sensor may be suspected.
Because of the unique design of the MEFI system, the ECM wil replace sensed values with calibrated default values in the case of a sensor or circuit malfunction. By allowing this too occur, limited engine performance is restored until the boat is repaired.
A basic understanding of sensor operation is necessary to be able to diagnose an out of range sensor.
If the sensor is out of range, but still within the operating "window" of the ECM, the problem will go undetected by the ECM and may result in a drivability concern.
Good example of this would be if the coolant sensor was reading incorrectly and indicating to the ECM that coolant temperature was at 50°F, but actual coolant temperature was at 150°F. This would cause the ECM to deliver more fuel than what was actually needed by the engine. This resulted in an overly rich condition, causing rough running. This condition would not have caused a DTC to set, as the ECM interprets this as within the operating "window."
To identity a sensor that is out of range, you may unplug the sensor electrical connector while the engine is running. After about 2 minutes, the DC for that sensor will set, illuminate the MIL, and replace the sensed value with a calibrated default value. If at that point, a noticeable performance increase is observed, the non-scan DTC table for that particular sensor should be followed to correct the problem.
NOTICE: Be sure to clear each DTC after disconnecting and reconnecting each sensor.