Your recovery partition is important because it contains the OS,
drivers and some OEM utilities. Plus, unfortunately, some advertising bloatware to delete (the price you pay for a cheaper PC). It puts your system in the same state when you first bought it.
Your factory recovery DVDs will effectively copy this partition. But DVDs are not always reliable. So don't delete your recovery partition. In fact use Macrium to make a couple of images of it for safekeeping. You can restore these to your current HDD or a new HDD.
Your recovery partition should be protected and Windows reimaging should not harm it. BUT when reimaging to the same disk, if you have the option NOT to select the reformat & partition option, don't. Otherwise you can have data partitions reformatted as well losing your data. I have followed this practice many times and never lost a data partition in an image restore. Windows will restore images to the partitions they came from which is generally what you want.
Macrium is more flexible than Windows in what partitions it images. I don't trust windows imaging by itself or Macrium. But with the two I feel very comfortable I have a very safe image. Having said this, neither has let me down so far.