Bugal Jackson :
I'm fine with that.
But I'm wondering about stuff like re-installing various drivers for usb devices, graphics card etc., or programs once I'm back in the OS.
I still have my windows 8.1 disc, would I just have to stick it in the drive and install or possibly have to buy a new OS?
You'd be starting out with a bare OS, just like when the system was brand new.
Drivers for everything, all your applications, etc, etc.
Having to buy a new OS is a maybe.
If you currently have an OEM license (where did this 8.1 come from?), then probably you need a new one for the new hardware.
If you have an actual Retail license, then it should be usable with the new hardware. Note: "Retail" does not mean "I bought it at the store"