Delete all files in My Documents

In 'My Documents' folder there are numerous files saved. These, I believe are saved in the Disk Drive. At the moment the Local Drive shows an empty space of 1.70 GB.

Suppose if I delete all the files in My Documents folder would it increase the 'free' space of the Hard Disk ?

And would this increase in 'free' space, in any way, help my laptop to function a little faster than now ?

Please let me know how to delete all the saved files in the 'My Documents' folder.

Thank you,
ben