I use the MIS chips in both my 1400 and 1430 and don't have a chip resetter. I always assume that the Epson ink status reports that I get are inaccurate, and as far as I know, they always are. I just run the printers until a cartridge really runs out, at which point the printer stops and patiently waits. I then fill up the offending cartridge and check the others at the same time. Then with a push of the "drop" button, the printer does a head cleaning and resumes the print - and flashes up the ink status screen again, usually showing me to be out of three or four inks when I know they are all full.
I confess this it not an ideal way to manage my ink levels, but since the printer recovers from an ink-out situation very well, it works. If I have some really critical printing to do, I'll just check the levels before I start. The extra head cleaning wastes a little ink but assures better prints anyway.