A question about hard reset

Hi,

I recently got hold of a Samsung Galaxy S i9000! Since I couldn't locate any dealer which is selling it with receipt I had to settle down for a used one.
I was actually cheated as I was promised an indian version phone with 9 months of warranty left but I think I got a UK unlocked version I am not complaining much though as it has Froyo and is already rooted!

My concern however is how safe it would be to hard reset this phone? Is it possible that it might get locked again if I do so, or cause any other damage?
Here are the details of my phone:
Model number: GT-I9000
Firmware version: 2.2
Baseband Version: I9000NEJP2
Kernel version: 2.6.32.9 root@SE-S608#1
Build number: FROYO.NEJP5

How safe it is to flash it with an indian firmware?
Thanks,

Abhijit

Thanks for a quick response!
Well, there is no OCLF in programs and in recovery mode this is what I get:

Android system recovery <3e>
Samsung Recovery Utils
             - for BML -
Enter: OK Key, Select : Vol UP / Vol Down
reboot system now
apply sdcard:update.zip
wipe data/factory reset
wipe cache partition
format internal sd-card
-----
update media, please wait

update media, finished
   # MANUAL MODE #

-- Appling Multi-CSC...
Installing Multi-CSC

Install default apk-files, please wait
Install default apk-files, finished

That's it !
Your help is greatly appreciated. Thanks in advance.

Regards,
Abhijit

Dear IS,
            I rooted my phone using z4root and installed OCLF 2.3, now i want to go back to stock , what are the procedures to do a hard reset , will my phone get network locked, i am running on froyo, middle east firmware JPA. i updated from eclair to froyo from the service centre, if i hard reset will i got back to eclair or i will be on froyo?

Please help.

Saszseb you forgot to mention you need to un-lagfix.

Goto OCLF and click Undo/disable Lagfix and also uninstall Ext2 Tools before doing a Reset.

Peace.
IronSingh

Thanks a lot guys,
          before getting the reply for my post i did it. I undid what i did with OCLF and removed the OCLF app then i did unroot using z4root , removed the x4root app and did a hard reset using the hard reset code *2767*3855#. everthing went well and i got the stock rom(froyo), phone was not locked and no other problems....
Cheers!!