So it still isn't re-setting? ResetProp() should be working here though. If that fails, make the prop stuck in the minimum state (-1), then unstick the prop - it should have moved back to the min-state allowing you to trigger events again. You can always tweak the limit settings later to suit.
It might also be worth verifying two things with the following line of code in the place where you are resetting the phonograph:
AddDebugMessage("pgraph: "+GetEntityExists("phonograph_1"),false);
If no message shows up, the code isn't running (which makes this problem very easy to solve
). If false shows up you have a naming mismatch. If true shows up, ResetProp() isn't working or the wheel is somehow being moved back to the max state after being reset.
Also, i'm off for the night now. If it still isn't working after a bit of playing about with settings post up / pm me the script file (and possibly map file if you think i will need it) so I can take a closer look and reply with a fix.