When my husband and I had to use the "fresh from the factory" restore point, it erased all of our programs, but deliberately left anything it could identify as documents alone. Which sucks, yes, but not *quite* as badly as having it nuke absolutely everything. (Not that I am saying that you should trust it to leave your documents alone, without trying to secure what backups you can, but you may not lose as much as you fear.)

Our experience is here (http://jerusha.livejournal.com/8175.html), for what it's worth.