It can contain data but will be deleted when after they receive it any analyze the data.
Your personal information has nothing to do with the error report. It goes to programmers, design and problem solvers that will investigate the issue and put a hotfix together to attempt and repair that problem. Mainly for yourself and others people whom have almost the same configurations you do. Your Microsoft Windows Update will analyze what is available for What Hardware & software you have, that's why System Admins do not send all Security/Hotfix updates immediately because they may not be important to their systems and will just cause problems in their networks.
What is actually sent is the following....
What types of information can be collected?
The reporting service can collect Information about problems that interrupt you while you work and about errors that occur behind the scenes. It is important to diagnose errors that occur behind the scenes because these problems, if left unsolved, may cause additional problems such as performance or program failures.
Reports contain information that is most useful for diagnosing and solving the problem that has occurred, such as:
Where the problem happened in the software or hardware. Occasionally, empty files might be included as an initial indication of a problem.
Type or severity of the problem, if known
Files that help describe the problem (typically system or report-generated files about software behavior before or after the problem occurred)
Basic software and hardware information (such as operating system version and language, device models and manufacturers, or memory and hard disk size)
Your Internet Protocol (IP) address is also collected because you are connecting to an online service (web service) to send error reports. However, your IP address is used only to generate aggregate statistics. It is not used to identify you or contact you.
Reports might unintentionally contain personal information, but this information is not used to identify you or contact you. For example, a report that contains a snapshot of memory might include your name, part of a document you were working on, or data that you recently submitted to a website. If you are concerned that a report might contain personal or confidential information, you should not send the report.
For More Information goto:
http://oca.microsoft.com
The specific inquiry you made is found at:
http://oca.microsoft.com/en/dcp20.asp