In my experience the unit will boot with the last settings it had when it was powered down with the front power button. If you kill power via a rack power strip, your hosed.
Hmm, well that was probably my problem. We used the Furman in the rack to power on and off, as, IMO, you should be able to do. So as to not have to replace power switches as often and so you only have to turn on one device once.
Otherwise, between our shop and a buddy's shop (the next closest PA company) we had five LCD screens die on us on the M-One.
Before the great analog price dive, it may have made sense to buy the M-One. Now that there are sub-$500 M2000 available in the used market, I don't think it does.
Jason