yes it should do what you want to do is get it back to when you 1st opened it i.e no email accounts not loged onto market gmail etc if you download astro from market you can backup your apps to sdcard remove it (sdcard)go back to factory defaults upload stock imgs then you can restore from astro after
or install clockworkmod make a backup then revove sd factory defalt then you can restore to your today image from clockworkmod