Windows 7 Windows 7 factory settings, wireless data transfer?

[m86]

How do I set my computer with windows 7 back to factory settings? Also, the thing is my friend that gave it to me has about 450 gb worth of data on it that he wants to save. What is the best way to save his data so I can set the computer and windows 7 software back to factory settings? I thought about storing it online somehow...? I don't have any money and don't plan on spending any. He does have a new computer with more memory, but he wont transfer the data to his computer due to lack of data transfer connection hardware. Is there a way I can transfer the data from my computer to his computer wirelessly? Thank you.

 

[Trouble]

I don't have any money and don't plan on spending any

The quickest and most reliable way to transfer the data would be to remove the drive from the system that you now have and attached it to his new system and let him recover the data that is important to him with SATA or IDE cables as might be required.
The fact of the matter is no matter how you do it 450 GB of data is going to take a while.
Yes you could network the two and move it although that would be much slower and slightly less reliable especially over a wireless connection.

It is a bit surprising to hear that someone with that much critical data has not used other means to back up and secure that data. I would have thought that he might have used one of the many free methods like http://www.backup-utility.com/free-backup-software.html to have created a system image of the drive before giving it away.