Transfer file wizard

I have a dell Inspiron 8200 1.5 Gig. It seems to have slowed down to the point that my P3 800 boots faster. I would like to reinstall Win XP with out losing my settings. The Laptop is set up for 2 users. But when I run the File transfer wizard it looks like that it only transfer only 1 of 2 users. Is this so and do I need to run the File transfer wizard on both users and restore the same way? Or is there another way?