You could simply load the factory image. Took a whole two minutes on mine to load 5.1. It is also doing a restore now so I am interested to see how complete that is.
Yep. All very true. Although when I posted the OTA wasn't avaliable. Also the restore loaded all my apps and so far I haven't lost much of anything. Even the few games I did have loaded had my progress. I will admit though that I don't do in-app purchases. Those would probably be lost for sure.
I am not aware of any restore process built into Android that restores app data/settings. Is this something new? I am aware of the "restore" that simply loads the apps back, and of course the stuff tied to your Google Account (like contacts), but have never seen anything that restored data for non-Google stuff like Plants vs. Zombies, Candy Crush, etc (unless you do that manually with a third-party app).