11-19-2007, 10:11 PM
Join Date: Sep 2004
Location: Frisco, TX
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Assuming everything goes as planned, it will automatically backup all your data, apps, and settings, then install the OS, then load all your data, apps, and settings back.
So you will be back like before you began. Except now, you might have a slightly newer OS and you'll have the ability to load apps through the app loader.
You won't have to do another activation or anything like that...