Quickest/easiest way to wipe my phone of all private data?

I want to wipe all my private data: photos, mail accounts, bookmarks, contacts and app data (because the Facebook app knows my Facebook password, for instance).

As I understand it, choosing "Erase All Content And Settings" will do a secure wipe, but that's overkill: I don't want EVERYTHING gone (because the phone is going to Apple for testing of an OS issue), and it would take ages (16GB 3G).

Am I right that that's my only option though?

I'm not paranoid enough to need a secure wipe, but I do want all my settings back to default. And I don't want to use desktop iTunes to do it--just my phone itself.

Thanks in advance.

Thanks--I figured as much, but luckily I checked with Apple and they say the unit is still useful to them even wiped, as long as I grab some logs.

So, a-wiping I will go!