Whether or not resetting the SMC discharges the capacitors in all the various ports or that is even necessary in newer Macs — it is about as close as you are likely to get.
Well I
can tell you for certain it does
not discharge capacitors. It triggers a forced reboot of the microprocessors. There is a dedicated RESET line on them that when that one goes high etc, causes an unstoppable, uninterruptible chain of events that leave the processor back in its default state before triggering the bootstrap, regardless of what it happened to be doing or how badly deadlocked it happened to be.
cliff notes:
- STOP the master clock (abruptly halts all CPU activity)
- clears all registers, interrupts, and other processor status flags
- clears all pointers, resets all vectors and JMP tables to their default addresses
- loads the program counter with the INIT (bootstrap) routine's address
- restarts the clock
Note this isn't the state it's in when its cold-started. Cold-start usually
triggers the above RESET process. A simple example is on the 6502 processor. The Reset Vector's default memory values on power-up insure a checksum mismatch. When the system comes up, it triggers the hardware level RESET, which loads different values due to the reset vector being invalid, loading the PC to point to the Reboot program before restarting the clock.