a hard reset and a factory data reset are 2 different things. a hard reset is also called a hard reboot and just kinda gives your phone a kick in the butt to get things working smoother again. a factory data reset completely wipes your phone and returnes it to the factory setup, just like it was when it came out of the box brand new (except it now has the 2.1 os on it). all data, programs and anything installed by you is now gone. to do a factory data reset go into settings, privacy, and select factory data reset. please be aware that this does NOT remove anything stored on your sd card, you will also need to reformat your sd card before selling your phone.
thanks man.. wel im planning on keeping my SD card.
my sister has a motodroid she is tired of touch screen. so she need 150 to buy a Blackberry. so when i sell my phone. i get her phone. and she gets the 150 for a different phone..