Is there a way to reset chrome://flags to their defaults?

Manual reset

Flags that can be enabled or disabled have gray font color in their description if set to their default value. The description of altered flags is black.

All drop-down menus should be set to Default or Automatic.

Override

Invoking Chrome with the command-line switch --no-experiments doesn't revert the changes made in chrome://flags, but it ignores them entirely.

For the record, now there is a Reset button on the flags page.

In Windows, to reset FLAGS:

• Close Chrome.
• Open via Notepad: %LOCALAPPDATA%\Google\Chrome\User Data\Local State
• Find line staring with enabled_labs_experiments
• Delete this whole line and save file.