Apparently the reload requirement is not only necessary for the sounds to work, but also required in order to properly restore the saved cockpit status. i.e. switch positions

Here's a quick test to prove it:
-start a new flight and turn OFF all of the hydraulic switches on the overhead panel.
-Save flight and exit fsx
-start fsx and load flight...switches will be back in the ON position.
-re-load saved flight....now switches will be in the OFF position as you had saved them.

I wonder what other variables are not properly restored upon the first load.....