From an Apple KB article
http://docs.info.apple.com/article.html?artnum=14449 :
The Power Manager is an integrated circuit (computer chip) that is usually on the logic board of the PowerBook and iBook. As the name implies, it is responsible for power management of the computer. It controls backlighting, hard disk spin down, sleep and wake, some charging aspects, trackpad control, and some input/output as it relates to the computer sleeping.
Over time, the settings in the Power Manager may become unusable, which can result in operational anomalies with the computer. Examples include not turning on, not waking from sleep, not charging the battery, or not seeing the AC Adapter, among others.
Resetting the PMU is not intended for resolution of a stall or situation in which the computer is unresponsive. A PMU reset should not be necessary except as a last resort in cases where a hardware failure of the power management system is suspected.
The Power Manager is an integrated circuit (computer chip) that is usually on the logic board of the PowerBook and iBook. As the name implies, it is responsible for power management of the computer. It controls backlighting, hard disk spin down, sleep and wake, some charging aspects, trackpad control, and some input/output as it relates to the computer sleeping.
Over time, the settings in the Power Manager may become unusable, which can result in operational anomalies with the computer. Examples include not turning on, not waking from sleep, not charging the battery, or not seeing the AC Adapter, among others.
Resetting the PMU is not intended for resolution of a stall or situation in which the computer is unresponsive. A PMU reset should not be necessary except as a last resort in cases where a hardware failure of the power management system is suspected.
No, it isn't analogous to rebuilding the Desktop in OS 9. Resetting the PMU isn't necessary in most cases. If you don't get a low battery warning or it won't charge you reset the PMU. There are other settings that can be reset with keyboard commands or via open firmware such as the PRAM and NVRAM.
John