It really depends on how the recovery DVDs are created. For sure you can use software like Macrium Reflect
to create a system image of your system as it is now which will allow you to restore your system to it's present state.
If you use whatever software Acer has provided, it could do a system image of your present install or it might create the Recovery DVD from a separate partition on your HDD which would be Home Premium.
Personally, I prefer getting everything setup on a new computer the way I like it after having removed bloatware, installed OS system updates and my essential software then doing a system image. That way, if I need to recover, my computer will be recovered to a much more usable state then the way it came from the factory.