Here is the alleged "easy way" I use to reformat (the first 13 or so are in my typical order of installation, but after that I just wrote what came to mind):
1. Format C:
2. D:\WIN9X\SETUP.EXE
3. Install latest mobo/chipset drivers and restart
4. Install lastest DirectX and restart
DEFRAG
5. Install latest VGA drivers and restart
6. Install peripherals (USB, audio, LAN, modem) and latest drivers and restart
7. Install MSIE 5.5SP2 (my fav) and restart
8. Install several MSIE patches/updates, restarting after each
9. Install several more Win9x patches/updates, restarting after each
10. Install preferred version of Windows Media Player (7.1) and restart
11. Install WMP8 Codec pack
12. Install two WMP7.1 patches/updates
13. Install DIVX
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14. Install Netzero and configure Dial-up
15. Configure Outlook Express 5.5 for mail account
16. Download the rest of Netzero install and restart
17. Install Winzip
18. Install Winamp
19. Install NERO Burning ROM and restart
20. Install Printer and driver and restart
21. Install Scanner and driver and restart
22. Install Microsoft Office 2000 Standard and restart
23. Install SR-1 for Office 2000 and restart
24. Install SP-3 for Office 2000 and restart (includes SP2)
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25. Install CacheMan and restart
26. Install GETRIGHT
27. Install Quicken 2002 Deluxe and restart
28. Install Updates for Quicken
29. Install Norton Antivirus 2002 and restart
30. LiveUpdate Norton Antivirus 2002 (currently about 14MB on 28.8 dial-up)
31. Install Digital Camera drivers
32. Install Paint Shop Pro
33. Install Paint Shop Pro updates
34. Install Ulead PhotoImpact
35. Install Ulead PhotoImpact updates
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36. Install me fav Hoyle Game Pack
37. Install me fav Hoyle Game Pack update
38. Install UltraEdit
39. Install Yahoo! Messenger (sometimes)
40. Install latest Shockwave and/or Flash Players
41. Install Stomp Backup MyPC
42. Install a few other apps/utilities I know I'm missing
Configure all Windows and application settings/preferences to taste, which I usually do as I go after each app is installed, import my email and address book back into Outlook Express, restore contents of My Documents folder and Favorite places.
Total time to complete this "easy way" = about 10 hours (however you want to divide it up: three hours per day = three days, or spend an entire Saturday) not including any time it requires to download new drivers or updates on 28.8 dialup in advance of formatting (unless noted).
What some people have rationalized as the 'technically superior way' of remedying a problem is in fact just another way of saying "I'm too lazy to do all of that unless it is absolutely necessary for me to. It requires too much time and effort. In truth, I would actually prefer to have a 'fresh' system like that, but man that's just too much damned work so I'll pass, thanks."