Jeff,
The ultimate "Return to factory settings" is to delete the files INTRFACE.BBW and MYSETUP.DK -- these are found in \bb\Preferences. I usually rename them by adding .old to the name.
These files that contain user settings and when BIAB can no longer see them, the program is forced to create new ones. You will need to set up your MIDI and Audio again after doing this.
The process for doing this is... close all instances of BIAB, go to \bb\preferences, delete the files, restart BIAB.
At some point, it's probably a good idea to fully shut down your computer and restart it, too. That's the best way for clearing out memory left-overs.
Regards,
Noel