Thanks for all your replies -
I guess '.1 elf Reset BOD' is a Freeshard term. You guys figured it out - you collect .1 skill BODs on an elf, put them in a book, sell the book to another player, presumably with a legendary crafting skill, they fill the low end sbods (quickly, easily and cheaply) and then turn them in so they can collect new BODs at 120 skill. The whole point of the elf .1 vs human .1 is that you will get the lowest sBODs possible because there is no JOAT effect (20 skills minimum). I don't even know if that is how the BODs work in UO anymore.
I was seeing if this was viable because it would have been a nice way to make some extra gold with only .3 skill!
But then again Max......I didn't even think of that.......