Completely agree. While the cancel button might be useful, the reset button is such an invitation to disaster, I don't know why it was even invented.

If I spend time filling out a form, why would I want to clear it? If I make an error, I'll correct it - not start anew. When I see a "clear form" button nowadays it's a big red flag that the owner of the site is still stuck in the 90s usabilitywise.