Always run Factory Recovery from its partition from within Windows or using the F11 key following these steps: HP Recover Windows 7 Operating System Using HP Recovery - HP Customer Care (United States - English)
. This is because Recovery can fail and then you will have the disks as backup.
If you start with the disks and it fails, then you have no backup since the disks will wipe the Recovery partition to reinstall it, too.
Make sure now the disks are bootable, and if not burn another set or back up a Windows 7 backup image of your entire HD to use as your backup: Backup Complete Computer - Create an Image Backup
If your machine is new enough to have the Minimal Recovery option you will get a much cleaner reinstall without the choking factory bloatware - almost as clean as doing a complete clean reinstall as shown in this tutorial: Clean Reinstall - Factory OEM Windows 7