In theory as long as you do not tamper with the flash-all.bat / flash-all.sh it will perform a wipe but it doesn't hurt to do a wipe before flashing. then use fastboot to lock the bootloader and you are back to out of the box stock configuration.
XDA Developers was founded by developers, for developers. It is now a valuable resource for people who want to make the most of their mobile devices, from customizing the look and feel to adding new functionality. Are you a developer?