I'm about to sell my 1.0.0 out of the box, unlocked, revirginised, reunlocked and upgraded to 1.1.1 iPhone to a friend, and I'd like to clean out all of my numbers, songs, calendar events, etc so that they can then start using it.

What is the best way to do this on a mac? Will I need to perform a restore of 1.1.1 on it?