Changing post entirely, thought it was a problem with reset without default configuration. It’s not - problem occurs with default configuration. The problem is 100% CPU use running the /export command and timeout errors:
If you just let it be, does it finish ?
It sort of does - generates timeouts. But after running, CPU is staying at 100%… can’t even run /tool/profile - no responding.
Not well at all 
And if you use /export file=whateveryouwant ?
Instead of dumping on terminal, dump to file.
Does that go faster ? Does it finish ?
Yes, export to file still uses 100% CPU but it does appear to finish. Ran it with /tool/profile - snapshot:
I’ve got a hAP ac lite as well - going to try that. Yes, same 100% CPU. Maybe they’ve always done this and I’ve just never noticed before. When ROS 7 came out, I did try a test upgrade and noticed the /export seemed slow. I’m not 100% convinced these lites can really run ROS 7 effectively.
I seem to recall some reports in the past about 100% CPU usage during export on SMIPS devices …
I think you might be right. The hAP ac lite (mipsbe) CPU goes to 100% but it doesn’t timeout.
Can’t upgrade to 7.14.1 either - not enough space
Later… removed wireless package, managed to update. Hope can put wireless package back!
It might be wiser to stay on 7.12.x for that device until they fix that space issue for 16Mb devices.
Otherwise you’d be constantly looking at the edge.
Okay managed to get it updated to 7.14.1. Export is still very sluggish but it can get there. However, it always fails with /tool/sms/export:
Getting the feeling that this little device is EOL - it’s done sterling service in the lab but ROS 7 is a step too far
Probably a good idea… it’s just my lab test device. Real shame this low end devices didn’t have a little bit more storage.
Supplemental question about resetting RouterOS. If you do /system/reset-configuration no-defaults=yes, is everything reset or are there some variables/configuration in flash somewhere? Does netinstall do a lower level reset?
The only sure way to get a clean install is … netinstall.
LOL - our messages crossed in the night 
I’m going to report /tool/sms/export as a bug. I’ve downgraded to 7.12.1 and it works fine. No error.
Netinstall will format the flash, so it’s the way of erasing all.
Running ROS 7 on hap lite is insane. This export timeouts I experienced myself on 7.3 or like back then. Even connecting with Winbox can cause 100% CPU usage. CLI was painfully lagging. Device hung up every other day by not responding anymore. And all with just default config and QuickSet CPE preset applied.
Mikrotik have confirmed that /tool/sms/export failing on hAP lite is a bug and will be fixed.