The leaked screenshot, courtesy of Win7China, plainly shows such an option below the already-available System Restore feature in Windows. If you can't see the screenshot, there's a "Open system reset" button to the right of the following description:
Restore to original factory settings
Remove all programs you've installed and restore default Windows settings. You can choose to keep your user accounts and personal files.
We seriously doubt the reset process will take two minutes on your typical hardware configuration. It should take significantly longer to remove all installed software and return Windows to its default settings.
Such a feature could be very useful for those times that you want to reinstall the operating system for your friend or family member. Even if it doesn't take just two minutes, it will certainly be faster than reinstalling the whole operating system.
It's not clear whether the feature will require the original Windows 8 disc, and given how early we are in the development cycle, if it will even be included. That being said, if it does what it claims to, we hope Microsoft won't scrap it.