Drives or Partitions?
Not that it matters - you can boot with the CD, choose the partition you
want to delete, recreate and go from there.. Yes.
However, you lose the installation of all your applications, as they
"integrate" in many ways into your OS install. So even if you have
installed Microsoft Office on your "D" drive, if you clean install the "C"
drive, you will have to reinstall Microsoft Office.