Usually a clean install is always best, you can back up your data using nero and a few cd's.
Reinstalling the apps you like is easy as long as you have the appropriate exe file and your registration if necessary. I usually format my drives about once every 3-4 months, but I have found that using a ghosting utility and a dvd burner makes this process quick and painless.
After the reinstall is complete, I update virus definitions and program updates and burn a new dvd. I ususally keep dvds about a year just incase a new installation produces undisirable results, I can go back in time.
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