Resetting battery gauge

[anthers]

Does resetting the battery gauge ever reset your battery capacity UP? I've had my 8-cell battery for a little over a year now, and recently reset my battery gauge because it seemed to be mis-estimating the amount of life left. I did it three times over three consecutive nights, and each time my stated capacity dropped, first from 75 Wh to 58 Wh, to 48 Wh, and now to around 43 Wh.

Does this really reflect the actual capacity left in my battery, or is this just what it appears to be to the power management software?

Thanks,
Anthony