It will not revert to anything prior to x.215. The purpose of a hard reset (factory reset) is to wipe any user data, settings, and other changes to the phone. It put's the phone in an out-of-the-box state. On most Android devices it does not wipe network provisioning which is a good thing. But it will not revert you to any previous software version or settings of a previous version...It simply reverts you back to x.215 with none of your user data/settings.
That being said, if it ain't broke, don't fix it.If you are having no problem whatsoever, then you should probably leave well enough alone.
Trust me, I have 2 posts. lol
Matty, Josh, Aintmy guys| Is this true:
Maybe we should note the indicator that Motorolla has now? Once you root, they will know. A lot of people may not know you can't just reflash a stock image if you need to send it back.