It depends how you are re-installing.
You mention factory settings so I assume it's a factory-built computer?
If you carry out a retore to factory state the system registry will revert to the factory-installed database.
If you carry out a clean install your registry will revert to that of a Windows 7 re-install, which will be different to a factory-restore registry.
Rather than a re-install, you might want to consider a repair install, which will leave your personal files and applications intact.
Whichever road you take, do make sure you've backed up anything important first. Repair Install