Me too
I'm in the same boat. I bought a base model 2011 and after a few months realized I wanted more speed/power, so this week picked up a Mid level 2012 Mini with a SSD and put 16GB RAM in it. Yes, it's fast.
But now am selling my base model to a friend. So need to re install the OS.
I have already done the command - r and done the recover re install the OS. I took forever to download over night and the next day, I've still got (or it re installed the OS keeping my settings, apps, bookmarks, etc.) the same OS installed.
It looks like there's a recovery partition, isn't there a way to reinstall the OS without the whole download thing and just install it from the 1+GB partition on the drive? I do have a 16GB thumb drive if there's no other way.