If you're talking about the iBrickr folder on your desktop, you don't need to delete it. You can use it to re-jail break your phone after the restore. (Note: I did read that people were having trouble unjailing with iBrickr after upgrading iTunes to 7.4).
If you're talking about the iBrickr app on your iphone, doing a restore will automatically delete it.
Hope that helps.
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