I know this is an old thread but I'm just getting into RetroPie (and Raspberry Pi's in general!)
@LeatherOtter Out of curiosity, did this end up working the way you expected? If so, I'm thinking the Powerblock might be a very easy way to modify my just arrived Retrflag NESPi case to make the power and reset buttons functional as expected. The Power button would just shut it down, and the reset button (which just momentarily cuts power) would cause a restart.