I have no idea if this is possible (but I hope it is :))
I want to put a bunch of a ADC readings into a storage array in ram (not EEPROM, too slow & not enough). Once the array is full the sketch will go into a wait state, awaiting a button press.
Here's the big question. With the sketch active, but in this wait state, can I plug in the usb cable to the PC. Then I press the button that tells the Arduino to upload the storage array values to the PC.
I've been doing lots of Googling about this matter and it seems many are having success with just a capacitor from RESET to GROUND. The capacitor basically keeps a "reserve of 5v" so the reset signal doesn't manage to pull the reset pin low enough to cause the reset.
Your solution would do exactly the same thing by keeping the 5v supplied.
My board (Freetronics Eleven - an Uno clone) also has a 2 pads with a tiny link between called RESET-EN. These pads are basically in the auto reset line (got the board schematic) so I could even cut that link, but I prefer not to. Either your method or the capacitor method will do me.