No. I'm quite sure if you have say a virus on the computer, it won't go away just by running System Restore. Also realize all that info is still there. I restored my computer back to my original install of windows(by mistake) then reverted it right back.
It's funny, though, because just after I posted this thread, I realized that I really didn't want to go through the trouble of reformatting..... I just need to figure out how to clean things up.....