Our old Dells have us clean install the OS then use the Dell drivers CD. You are talking a decade ago when we thought that was easy. Today more systems have a better restore system but in this case it looks like the old restore system.
The F8 menu would not be useful.
Since you are giving it away why not wipe the drive and hand the black PC and CDs to the new owner. Don't enter the tar pit of support. You are giving the machine away along with it's old issues (restore, etc.)
I have a Dell DHS desktop operating Windows XP Pro.
I'm giving this computer away and I'm trying to do a simple factory restore.
I've tried to look online on how to access the option but am having no luck.
The info I have found is if I push F8 at bootup it should take me to the Advanced Boot Options Menu and I should find the option there. But F8 takes me to the Windows Advanced Options Menu instead. And I can not find out how to factory restore from this menu.