Yes, it resets every time you go to P, N or D.
When you set off from P I think you can go straight to B using the 'gear lever' by going down, I say 'think' because that's 2nd hand info, I don't do it.
Also, when in any B setting (0 thru 5) you can pull and hold the right regen lever and it goes into D.
Going into cruise control automatically moves it to B2 (same value as when in D) no matter what setting you were in.