How about go back to Christmas Eve or even December 23rd, 2004? I think that just might give enough time for a quick evacuation to higher ground, and also to re-do all over 2005.
I didn't mind most of 2003-early 2005, personally. It was actually quite fine. If we reset time, we might end up with a problem like in "Frequency", only with elections in Canada happening every other week. :evil:
Perhaps we should just all make the best of 2006 instead of playing with the fabric of space time.