I've decided to get rid of my PS3 by donating it to a younger brother. This means that I want to totally purge all data on it such as user accounts, save games, credit card details and the like before I give it to them. (I love my little brothers but they aren't getting my credit card number or owt). Is this possible? Does Settings > System Settings > Restore PS3 System option actually do this?
I did look for other questions before posting this one but they all seemed to be about removing user accounts and not the whole thing.