A MasterController Reset rebuilds the sim, object, or lot from the ground up based on information the game has on them at the time. Reset Everything works on the entire town. It is certainly intrusive to gameplay and I only run one (when it's needed) in the middle of the sim night so as not to disturb anything other than my sims' sleep or whatever they may be up to at that hour. It manages to catch and correct garbage data and signs of corruption that the other mods like ErrorTrap may not have been able to find yet. It does not in any way disrupt the progression or status of our sims. It will tend to restart their dream managers, so you may get beginning of the game types of wishes for a short while afterwards, but for most of us that's a pretty minor thing to have to put up with.
StoryProgression is the NRaas mod known for adding overhead to the game rather than making it run more efficiently. But given how poorly EA's built-in story progression works for so many players, and its lack of customizable controls, we see that as a trade-off against the benefits it and the other mods provide. Your system is perfectly capable of running NRaas SP, but if you have a way overpopulated and way overly complicated world on any system then SP could without some adjustments be a nightmare to manage and keep running smoothly. That's not usually the expected outcome, of course. All of the mods are relatively easy to remove if they just don't work out. :)