This is what I have done in the past; using bcp to drop the data from the table into a file, truncate the table and then reimport the data into the table again.

Tip - order the data when you are exporting it, in the order of the primary key; and then when you are importing it use the -h (hint) switch to define the order. This makes life much nicer.

But as to whether or not it is quicker will depend on the volume of data you are working with.