falcon what i suggest u do in ur case.
format ur hard drive, install all the updat's u can, install all ur drivers, install any programs that u use alot/daily (ie: photoshop, msn ...........)
then take a "image" of ur hard drive and save it.
doing this it takes a couple of hours to have a fresh install when u need to and all ur programs, drivers and updates are allready in place. all u need to do then is to install the updates from when u last took an image.
the program i use at work to do this is norton ghost but there are other's out there that will do the same thing.
something else i tell people to do with mid to large drives is to partition the hard drive.
so a 320gig hard drive becomes "2" drives
have a small (80gig) main drive c:\ use this for windows and programs.
have a larger (240gig) 2nd drive d:\ for downloads/storage.
doing this means u can wipe c:\ with windows, re-install windows and the data on d:\ will not be touched.