A: No, you wont need the disk, the recovery partition takes the place of the disk(s) that used to be shipped with the computers. Just run that and it will be like you just bought it.
But you'd be better off downloading your version of windows - then burn to USB and do a clean install of windows 7 without all the bloatware. You'd need to copy your existing hard drive first so that you can easily reinstall any missing drivers.
If you boot from the recovery partition - yes it will be like new. In other words, you will miss any updates, patches, driver updates and third party software. It will take days to sort out. So before restoring, please backup everything on your computer.
What if you lost data after restoring Windows?
Can I recover the lost data after restoring from recovery partition?If you lost some important data after restoring your Windows from recovery partition, don’t panic. You know there are some professional recovery software like MiniTool Power Data Recovery, which can recover almost all kinds of files.
If you runs Mac OS X, you may need Mac Data Recovery.