Hi Ghostie,
We are still voting on what will happen with the 1.8 update. If the poll passes then we will reset the world. But there is no idea on when that will happen.
I would recommend getting a small base going. This way if we reset you will have practice and if not you will already be up and running.
I look forward to seeing you in the server and please place your vote on the map reset for 1.8 as well.