Yep, however, I'm still partial to the power + vol.down + center button while holding the stylus in your mouth and resetting method.
But yeah, the couple of times I've had to hard reset in public, I've used your method. You don't want to be the weirdo poking his phone with a stylus in his mouth when you're in public
P.S. another option is via software by clicking "clear storage", but it's not always possible