I must once again chime in here. This utility has SO many possibilities, especially when trying to troubleshoot problems with user-installed applications! I've created the stripped down profile as mentioned above and the phone is lightning fast! It's amazing to see it in full new operation. The profile is COMPLETELY new, and the phone actually goes through all the initial setup procedures just like as if it was Factory Restored, except for one very important thing...if I want to go back to the original profile, I just run the utility and click the button.
What could be easier!? This is ONE BOMB of a utility and ANYONE would benefit from it. It's not much different than using Safestrap and running two ROMs, the safe and the non-safe, except of course this is ONE rom, and the stock one at that. I'd be curious to know if this works with other ROMs as well, so that even if you're using let's say CWM10, you could have a safe one and the full-blown one too.
Cheers and KUDOS to a great job. Now I've got to check out all the other cool apps.