Per the above, you will "keep your settings" if that refers to the basic EQ knob settings. The rest is gone fer good!
(From WIKI - "When a new amp type is selected within the AMP block (on hardware or in the editor), that amp type
is loaded with its default parameters. Meaning: the default parameters applying to that specific amp type. But not all! The basic gain and tone settings are left untouched. These are: Drive - Overdrive - Bass - Mid - Treble - Output Level. Plus some other parameters mentioned below. This method of defaulting is referred to as 're-select' or '
soft reset' ").
"So if you set Bass to 3.00 (default is 5.00), and you switch to another amp type, Bass will still be set at 3.00. Most other parameter values will be (re)set to default settings. The list below shows which parameters are affected, following the order of the tab pages of the AMP block on the hardware.
- PRE: Input Trim, Cut/Fat/Brt switches, Bright knob
- PWR: everything except: Output Level
- SPKR: everything
- EQ: all sliders and EQ Type
- PWR DYN: everything except: Comp Type and Speaker Comp (Quantum 9)
- PRE DYN: everything except: Output Level
- DYNEQ: everything except: Char Type, Char Q
- ADV: everything except: Input Select and Speaker Time Constant (Quantum 9)
- TREM/MIX: Trem Depth
Note: Master Volume gets defaulted when you reselect an amp type. This is important, because it may make your presets louder or softer."
So IMHO The Spkr Comp stuff radically changed things - there was no way to only soft reset on a lot of moderately tweaked amps. Except in some cases, where just an adjustment of the Spkr Comp knob to 3 or thereabouts was okay, because those were minimally tweaked, and 3 was a decent setting for them. But I experienced amp models where 3 was too much, and I think some where it might have been too little.
Of course, its so easy to dial in sounds nowadays, that presets that are more or less generic can almost be instantly remedied if it needs it - but I'm referring to presets that must be very specific and capture a very particular or difficult-to-capture sound.