Factory reset and hard reset, what's the difference?

[step11angelo]

FORMATTING CODES
*#7370# .......... Format phone...[Hard-Reset]
*#7780# .......... Factory Reset

Formating the phone means wipe out of the phone memory right, all applications,Messages if it's in the phone memory, contacts, everything.

Factory reset does what? anybody?
Is it only to restore the phones's default settings or it wipes away something from the phone mem?

Just asking cause I really wanted to clean up my n82 but I'm afraid the instalserver I placed in there would get wiped out, I don't have any file explorers that is signed with all capabilities to copy that file to C:\sys\bin once it's fresh v30..

I just want to have it back to installing unsigned apps again after 'cleaning"
need help guys..