Just connect via mass storage mode and copy everything over before doing the reset. Once you start over again, go into the market and you should be able to install your apps (the default google way this is supposed to work is broken on our phones, and probably most vendor phones too). Install the apps manually (it will remember everything you have paid for, though Launcher Pro as well as any other non-US app, requires the unlock code... hope you saved that email).
Once you reinstall everything, selectively copy the folders back for apps that have "data" saved you need. This is where you will really wish you had TiBu. It SHOULD work since you are not loading a new ROM or anything, but restoring app DATA is one of pitfalls/problem areas.
Apple "owns" the iPhones in a way that allows them to backup/restore the entire phone in a nicer way than we can. Note however that you can ONLY do it with iTunes, which is Apple's safety net. This issue is a doorway to app piracy (which is why Apple does it the way it does) and why it is not so easy with Android, as Android is far more open and thus technically easier to "pirate" apps.
It screws you when it comes to backup/restore, and it is a common reason for people to root their phone.