My theme included 4 default widgets.
This reset, as expected, restored these defaults. Just so folks are aware.
However, when I changed the theme, naturally I only had the default widgets that came with the new theme.
I am a WP noob who has played around with a few widget plug ins trying to set up my blog. This reset was a very convenient way of clearing out lingering effects of too many widget changes without having to crack open the code.
Thanks very much.