I tried out that reset feature, original install media required! Smooth sailing! after complete, seems to put everything into a folder called windows.old. One does not have full access of to this folder by default. ( Contents can be deleted or salvaged with proper owner rights. ) other than that if windows was activated it remains activated, all settings indeed go back to the default language, region, time, calander, windows layouts. "drivers". "features".
I dont know what happens with installed updates as I did a reset before having installed any. (possible redownload whatever you had)forced by what you had during the process while connected?, could be a lenghty reset install if that where the case, would not be a real reset.
RESET: Windows 8 without updates & and not connected to internet. = Fresh install. Awesome feature.
No performance loss besides the defragmentation caused by the windows.old.
Anyone tried out the refresh? (Would be good to know if it also removes drivers and features.) Could also be usefull, but I rather go the performance route with reset if possible.