Turns out the damage is less than it was in previous versions. So yes. There are backups made in your /home/user/ directory when speedpatch "updates" your .bashrc and .profile (and ls -a will find them). As for the kernel settings, running a kernel-config command to default to the right config for yourself will repair that as well.

Repairing the fact that this forces overclocking when people think they're not overclocking though... And this assumes that all cgroup stuff already in the kernel resets every reboot, and isn't stored somewhere (like in gconf).