If you follow the recommend flashing procedure, yes, you will lose your settings.
But I have, in the past, flashed my bios without losing my settings. But I highly recommend following the recommended procedure for flashing your bios. If I have a bad flash buying a new bios chip or mobo isn't going to break me. I won't be happy but I can afford to buy a new one.
Most of the new mobo's that I've seen lately allow you to save multiple bios configurations that can be loaded with just a couple of navigational keystrokes. So you have something to look forward to, HaHa
A bad flash will screw you. So you need to be aware of a few potential hazards. A power outage, surge/spike, reseting the power, a glitch in the system or anything odd that happens while the flash is in progress will render your system as useless. Flashing your bios with a Windows based program is extremely hazardous to your PC. If you flash with a Floppy Disk make sure the Floppy is completely error free. If your bios has the option to boot from a usb flash drive then that is my recommended choice, but you'll have to make the flash drive bootable.
The program I used turns it into a Virtual Floppy that can't be undone. Your flash drive will only hold 1.44mb just like a floppy.
Install BootDisk to Bootstick on your PC
Download BootDisk2BootStick 0.10 Beta - Small utility to make an image of your startup disk or clone it to a flash drive - Softpedia
Download Image for Dr.Dos http://3oh6.com/forum_posted/evga/us...lash/drdos.bin
Use BootDisk 2 Bootstick to image the drdos.bin file to the USB Flash Drive.
Can you give me a link to your mobo and or bios file?