Elemental Reset and Elemental Wands

I Google searched this topic because I was curious about Blaze Wizards and the analogous skill for Evans and was surprised to read on more than one occasion that an elemental weapon's percent bonus is not negated after the Elemental Reset goes into effect and the wording on some of the explanations was not completely clear so what I surmised is:

1000 fire-based damage + E.Wand 1 = 1250 fire-based damage

The same 1250 fire-based damage (E.Wand 1 included) + Elemental Reset = 1250 neutral damage

And lastly, 1250 neutral damage (Elementally Reset from fire-based with E.Wand 1 in tow) on fire immune monsters still does 1 damage and 625 damage on fire strong monsters.

Is that all correct?

Everything except the resistance part. You will do regular damage on a fire resistant monster while using Reset.