A preset is simply an entity from the scene which is saved off. They are both written in the same way.
When a preset is added to the scene, it runs through all properties and sets them up much like the scene load sets all the properties, this includes the "Reset" button in both cases.
When you select an entity from the "scene entity list" panel. It does not run properties and then requires the "Reset" button hit in order activate the particle system to edit a particular particle.
Yes, you are right that in order to have different particle settings, different files need to be used.
It would be a cool feature to be able to do what you are saying though.
shame it doesnt load the info on select for each particle.
It could be done, but it was designed so you could fly around the scene placing the particle while editing it, and i am sure we all click off the objects at times or select others by accident
lol
There are plenty of improvements that can be made to the particle system and i think this is one of those areas.