I'm reasonably familiar with Egyptology and haven't heard of any form of reset predicted. As far as I know they were one of the many civilizations who assumed all was in perfect alignment as it was most of the time, blessed by their gods and would continue for all time which sounds a bit stupid now but Egypt lasted longer than most civilizations ever have.
I wouldn't discount the ancient humans so easily based on technology of what they can and can't do and looking for external influences. I think we underestimate their skills and intellect to make our own short lived civilization look that much better. It's important to remember we're now benefiting from a mostly harmonious unified world so knowledge and technology spreads and is more common than it was in the ancient world where societies seemed to have miss-matched skills, knowledge and technology possibly due to isolation enforced or natural. Also that civilizations have hiccups in development, fall apart and reform into new ones so some in the past have more skills and knowledge than those that followed at least until the new civilizations got up to speed.
Ancient Egyptians had amongst many useless practices some great dentistry which has similar techniques to our own still in use today, various chemicals with properties of many common medicines including laxatives and something like toothpaste and none of it more than they couldn't learn from observing and experimenting but still impressive. There are some extraordinary feats we cant even begin to replicate but it could be something simple we just don't know about. If ours isn't one of the last civilizations then imagine some future civilization trying to work out how we combined electricity, silicon, metal, and a lot of other things to form a computer and program it if all record of the process is gone and their civilizations took a different path in developing.
According to a program I watched ancient Greek metalwork and specifically tools were much stronger than most of what we make today using ancient techniques which in reality were likely simple, just practiced and refined against competitors for centuries. Like Japanese sword making which for people reasonably dubious about television programs I know is something you can read extensively in books and even see still made the traditional way in very limited numbers, relies on very low technology that's skillfully handled with almost unbelievable results. There are a lot of interesting and incredible ancient marvels that the creation of remains a mystery, but not enough to make me wonder if it's anything more than ingenuity or skill behind them.
As to if the world will end in 2012 well I'm going to remain unconvinced about any Mayan predictions until someone finds out they predicted their own demise and didn't assume they would still be here in 2012 but at the same time a civilization is a fragile thing and we shouldn't be so certain ours won't fall apart for more rational reasons
Also I vote the decepticons as a reasonable concern for the world ending but that's why autobots exist.