Originally Posted by Tiersten
Maybe. Maybe not. The flash controller and Kindle software may prevent it from working by doing wear leveling. No idea what would happen as I've never done a factory reset and examined the flash drive. I'd say this would be an absolute last resort anyway because undeleting files is generally unreliable anyway for anything which isn't easy to piece together or if there are multiple files involved.
I did do a test. I backed up my younger sister's Kindle 2 onto my computer and then reset her device to factory defaults. I then connected the empty device to my computer and had Recuva
scan the device. The only files it found were a couple semi-intact GIF screenshots and a badly corrupt audiobook (along with something that it thought was an AVI file titled "index`db"). Unless Kindle 3 doesn't emit as powerful a flash as Kindle 2, I won't be able to recover anything useful with Recuva